Holiday home insurance & Second home insurance

Tax proposals could see more people go green

Sales of green new-builds could be boosted by new tax proposals, it has been said.

New tax proposals could see home insurance customers invest in green new-builds, an expert has said.

The government has proposed the introduction of a tax on poorly insulated homes, encouraging people to consider the environmental impact of their properties.

And Vernon Pethard, founder of newhomesforsale.co.uk, said many buyers may look to newly-built homes, which tend to be more eco-friendly.

"These measures may result in more people choosing new [homes] because in addition to being greener, new homes are more economical to own," he said.

According to recent press reports, the coalition is also considering increasing stamp duty tax on homes with low energy efficiency, an idea put forward by the Green Investment Bank Commission.

"Threatening an increase in stamp duty on older, poorly insulated homes is likely to deter people from buying one, because it's not always possible to bring them up to the exacting modern standards set by today's brand new homes," Mr Pethard concluded.

Posted by Leanne Thompson
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