EPC rating and sold prices in M23 (Manchester)
In postcode district M23 (Manchester), homes rated EPC C or better sold for 10% more per square metre than D–G homes (median £2,600 vs £2,366, 3,878 sales). Like for like — same size, type, build period and year — the difference is +0.4% (95% range −1.3% to +2.2%): the EPC band itself is not reflected in sale prices here. 1 of 4 sectors with enough sales show a difference distinguishable from zero. Data: HM Land Registry to 30 September 2026, EPC register.
From the raw gap to like-for-like
The homes are not alike: C+ homes here have a median floor area of 77 m² against 83 m² for D–G; both groups are most often built in 1950–1966; 44% of C+ and 58% of D–G sales are detached or semi-detached houses.
| Comparing C+ with D–G homes… | Difference | 95% range |
|---|---|---|
| Raw gap per m² (medians) | +10% | — |
| Whole price, nothing held equal | +3.5% | +0.6% to +6.4% |
| Same floor area | +9.7% | +7.3% to +12.2% |
| + same property type | +15.2% | +12.8% to +17.6% |
| + same build period | +7.6% | +5.1% to +10.3% |
| + same year of sale | +0.4% | −1.3% to +2.2% |
The first row compares median prices per m²; the second compares whole prices; each later row adds one more thing that must be equal, ending with the like-for-like premium (regression of log price; build period from the certificate, 12 bands). The raw gap per m² and the whole-price gap differ because C+ and D–G homes differ in size.
Postcode sectors in M23
| Sector | Sales | Raw gap | Like-for-like | 95% range |
|---|---|---|---|---|
| M23 0 | 1,109 | +36% | +4.1% ▲ | +1.3% to +7.0% |
| M23 1 | 1,019 | +6% | +1.7% | −1.2% to +4.7% |
| M23 2 | 458 | +11% | −1.0% | −6.0% to +4.3% |
| M23 9 | 1,292 | −2% | −2.6% | −5.6% to +0.5% |
▲ green: premium distinguishable from zero; ▼ red: discount; plain: no measurable difference. Small areas have fewer sales, so their 95% ranges are wider.
Sold prices by EPC band in M23
| EPC band (last certificate before sale) | Sales | Median £ per m² |
|---|---|---|
| A | 52 | £4,295 |
| B | 353 | £2,585 |
| C | 1,464 | £2,558 |
| D | 1,644 | £2,436 |
| E | 301 | £2,125 |
| F | 57 | £2,000 |
| G | 7 | too few |
A median is shown when a band has at least 10 sales.
How this is calculated
- Every standard sale (HM Land Registry Price Paid, category A) since January 2015 is matched to the latest energy certificate of the same address (postcode + house number or name + flat) lodged from 10 years before to 3 months after the sale; sales with no certificate or an ambiguous match are left out. Across England and Wales 92% of sales match.
- Price per m² uses the certificate's total floor area (15–1,000 m²).
- Like-for-like premium: regression of the log of price on “C or better”, log floor area, property type, the certificate's build period and the year of sale. The 95% range shows how precise the estimate is; when it includes zero, the data cannot tell the premium apart from none.
Caveats
- The band is the one on the certificate before the sale; certificates are a median 0.8 years old at the sale, but a quarter are over 4 years old and some homes were improved since.
- Condition, garden, parking, views and the exact position within the sector are not known; a premium could hide in them, or they could hide one.
- Individual sales and addresses are not shown.