Electric car chargers to boost house prices

LIVING near an electric car charging point could boost the value of properties, a study has found.

Co-op Insurance said its research among 2,000 adults indicated that one in 10 households have a facility to charge a car, adding it was becoming the latest “must have” for buyers.

A growing number of policyholders have electric vehicles, leading many to believe the value of their property will be affected if it does not have a charging facility, the Co-op said. According to the study, almost a third of motorists are planning to swap to an electric vehicle within the next five years.

Nick Ansley, head of motor insurance at the Co-op, said: “We can see that more and more of our policyholders are opting for an electric vehicle and so, going forward, a chargepoint will be a necessity that house buyers will be looking for when purchasing a new home.

“Installing a chargepoint at a property with a garage or a drive is fairly straightforward but it is not so easy for people living in an apartment.”

Last month, the Government revealed the number of rapid chargepoints for electric cars will double in the next five years. It is part of more than £500million of investment earmarked by the Treasury for green technologies.

It promised motorists will be able to top up their battery-powered vehicles at an additional 3,000 rapid chargepoints by 2024, lifting the total across the UK to more than 5,000.