New Build Homes: 89 % of Co-Ownership purchases since 2022 rated B or above

Co-Ownership has launched its Climate Change Strategic Response to take an active role in supporting Northern Ireland’s Climate Change Act 2022, which commits to a 100 per cent reduction in emissions by 2050, and 48 per cent by 2030.

Residential homes are responsible for 14 per cent of all carbon emissions in Northern Ireland. Figures released by DAERA in June reveal that there has been a 5 per cent rise in emissions in 2021 from 2020. With the pressure on, Co-Ownership has undertaken a detailed analysis of its properties to capture Energy Performance Certificate (EPC) ratings and better understand the organisations carbon footprint. An Energy Audit concluded that of the 7,749 homes audited thus far, over 4,000 are rated grade A, B or C – a positive outcome considering the average rating in Northern Ireland is D. Further analysis demonstrates that 89 per cent of Co-Ownership’s new-build purchases since April 2022 are rated grade B or above, illustrating the impact recent changes in buildings regulations have had.

The organisation has a share in over 10,000 homes across the province and continues to be a key player in Northern Ireland’s affordable housing landscape. Every year it supports up to 10 per cent of all first-time buyer transactions, helping people into home ownership who otherwise may not be able to afford a place of their own.

Andrew Shott, Finance Director at Co-Ownership, said: “As we look to extend our impact on society by continuing to provide alternative routes to home ownership, we are committed to the just transition to sustainable living for both our existing and future customers. Research shows that property owners are aware of the urgency of climate change, but unclear on how to respond. We have to build a better understanding of our carbon footprint, and EPCs are a great indicator of potential improvements that can be carried out.

“With the creation of an energy hub, we have started to help our customers improve their energy use and the carbon efficiency of their home. We are also encouraging new customers to look at the EPC for their chosen property and consider its energy efficiency, and we have even produced an EPC guide to help them.

“Our plans provide an important first step for the owner-occupier sector. We’re confident that with continued leadership and collaboration with the Department for Communities, developers, and lenders, homeowners can start to make positive changes to their homes.”

In addition to setting out its aims to help improve homes for existing customers, the Strategy also focuses on future customer purchases.

Andrew explains, “We have already helped some of our customers purchase A and B rated properties. A recent example is in Newtownards where the property boasts energy-efficient technology with solar PV panels that sit seamlessly level with the roof tiles of the home. This is a hopeful sign of things to come with more developers committed to reducing the overall impact of construction by building more eco-friendly homes that offer substantial cost benefits.

Shaw Montgomery, Director at property development company Dunlop Homes says the sector is changing at rapid pace and echoed Co-Ownership’s call for increased collaboration.

He said, “Most developers are moving to passive design techniques to meet the new regulation standards introduced last year. The result is precisely engineered and detailed structures that are highly insulated and require less energy demand to maintain a comfortable temperature in the home. With the rapid rise in energy costs, we made the decision to introduce solar on a recent development to lessen the burden on our prospective homeowners. This continued focus on innovation is crucial as the sector works together to create a housing system that remains affordable and is built for the future.”

With the cost-of-living crisis having a negative impact on disposable income and mortgage affordability, Andrew highlights that understanding the carbon footprint within a home helps homeowners to make better decisions for the environment and their pockets. Furthermore, a commitment to environmentally friendly housing supports first time buyers to unlock a widening range of affordable mortgages with lenders starting to use EPC ratings as a criterion of eligibility for emerging ‘green’ or ‘sustainable’ mortgage products. Working with lenders to understand and plan for market changes is also a key element of Co-Ownership’s climate response.

Andrew concluded, “As the costs of running a home increase, our investment in staff education will support customers to reduce their consumption which will help reduce their household bills. Small changes really do make a big difference, for instance, turning off standby appliances, turning the thermostat down or a taking a bigger step like replacing old inefficient boilers.”

The organisation’s Climate Strategy will support housing sector focuses on net zero targets. For more information download Co-Ownership’s Climate strategy here.