A prominent sales and lettings agency says demand for homes with Electric Vehicle (EV) charging points remains high, despite a new government announcement.
The Budget confirmed the introduction of a new mileage based tax for EVs from 2028, but Foxtons believes the underlying affordability benefits of electric vehicles will ensure that demand for homes with charging facilities continues to rise.
As an example, Foxtons analysed current for sale market stock across every London borough to assess both demand for homes with EV charging points and the availability of such properties.
It suggests demand for a property with private EV charging is robust, with some 28% of homes offering such a feature having already found a buyer. In several boroughs, demand is substantially higher. Islington leads the capital with 60% of EV equipped homes already under offer, followed by Bexley at 53%, while both Barking and Dagenham and Lewisham stand at 50%. Haringey, Sutton and Havering also show elevated demand levels, ranging between 41% and 44%.
However, availability remains extremely limited. Just 1% of all homes currently listed for sale in London include an EV charging point – with Merton offering the highest share at only 4%.
The Budget’s introduction of a mileage based tax from 2028 has created new cost considerations for EV drivers, but the government has simultaneously reinforced its commitment to boosting adoption – with upfront purchase incentives having been extended, eligibility thresholds raised and significant funding committed to improving public charging provision.
A Foxtons spokesperson says: “The Budget has added a new long term running cost for EV owners, but it has not altered the broader direction of travel. Electric vehicles remain a more affordable and popular choice for many Londoners, and the Government has strengthened the support available to those opting for to go greener when it comes to their mode of transport.
”As EV adoption continues to rise, the presence of a private charging point is becoming a significant advantage for sellers and our data shows exceptionally high demand for EV compatible homes across the capital.
“Yet the number of these properties on the market is extremely low and this creates a clear opportunity for homeowners. Buyers increasingly value convenience, security and future readiness, and homes that provide private charging facilities are well placed to attract stronger interest and competitive offers in the years ahead.”
