Electric Car Owners Pay Extra 5% for Properties

Date Published 27 July 2022

With the increase of electric cars becoming more popular, the difference in price for properties to sell with electric car chargers already installed has increased. Currently as of Summer 2022 there are 477,000 of the UKs population that own an electric car with a further 790,000 owning a hybrid. It is estimated that by 2040, the ownership of hybrid cars will rise to 25.5 million.

Homes with electric charging points are commanding a 5% premium. The average UK property is being valued at £292,000 whereas the average UK property with an electric charging point has been raised to £306,000. To install a charging point the average cost would be £800 so by installing one as a landlord it is raising the price of the property by a significant amount.

This follows research by Savills in June that found while the combined number of electric, plug-in and other ultra-low emission vehicles has increased by 176% over the past two years, the number of charging points has increased by just 72%.