EPC rating and sold prices in M4 (Manchester)
In postcode district M4 (Manchester), homes rated EPC C or better sold for 12% more per square metre than D–G homes (median £3,438 vs £3,082, 4,396 sales). Like for like — same size, type, build period and year — homes rated C or better sold for 1.8% less (95% range −3.5% to −0.2%). 2 of 5 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 67 m² against 69 m² for D–G; both groups are most often built in 2012 or later; 2% of C+ and 2% of D–G sales are detached or semi-detached houses.
| Comparing C+ with D–G homes… | Difference | 95% range |
|---|---|---|
| Raw gap per m² (medians) | +12% | — |
| Whole price, nothing held equal | +0.7% | −2.4% to +3.9% |
| Same floor area | +7.4% | +5.1% to +9.8% |
| + same property type | +7.8% | +5.5% to +10.2% |
| + same build period | +0.6% | −1.3% to +2.5% |
| + same year of sale | −1.8% | −3.5% to −0.2% |
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 M4
| Sector | Sales | Raw gap | Like-for-like | 95% range |
|---|---|---|---|---|
| M4 1 | 507 | +14% | −1.6% | −5.7% to +2.7% |
| M4 4 | 1,196 | +27% | −1.5% | −3.8% to +0.8% |
| M4 5 | 614 | 0% | −4.9% ▼ | −9.4% to −0.1% |
| M4 6 | 1,053 | +1% | −1.7% | −4.1% to +0.8% |
| M4 7 | 1,025 | +13% | +6.7% ▲ | +2.9% to +10.6% |
▲ 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 M4
| EPC band (last certificate before sale) | Sales | Median £ per m² |
|---|---|---|
| A | 1 | too few |
| B | 1,735 | £3,733 |
| C | 1,912 | £3,187 |
| D | 569 | £2,972 |
| E | 156 | £3,631 |
| F | 20 | £3,467 |
| G | 3 | 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.