Why the electric car revolution is increasing your house price

Electric vehicle infrastructure is relatively well-developed in central London, but in the suburbs the shortfall is acute. While in Westminster there are 2.5 electric vehicles for every public charging point, in Dacorum in Hertfordshire, the ratio is 57. Similarly in Elmbridge, Waverley and Mole Valley in Surrey, the respective ratios are 51, 46 and 45.

Lucian Cook, of Savills, said places where electric vehicle ownership greatly outnumbered charging points would see the biggest impact on home values.

He said: “As the gap between demand for electric cars and public charging points grows, we can expect to see homes that offer private charging provisions to come at a premium.”

Charles Davenport, of Knight Frank estate agents’ in Elmbridge, said off-street parking was becoming a deal-breaker for buyers with electric cars.

He said: “We had a house in Cobham and the couple looking at it had an electric car and they said sorry we can’t because there is no off-street parking and it is absolutely essential for us.” The biggest charger shortfalls are all in the extended London commuter belt in the South of England. Other hotspots include Tandridge and Woking in Surrey, as well as Reigate and Banstead, St Albans and Sevenoaks.

In two years, the combined number of electric cars has emerged by 176pc, while the number of charging points has increased by only 72pc.

At the end of 2021, there were 14.75 electric vehicles for every charging point across the UK, compared to 6.35 at the end of 2019.


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