EPC rating and sold prices in M40 (Manchester)
In postcode district M40 (Manchester), homes rated EPC C or better sold for 31% more per square metre than D–G homes (median £2,168 vs £1,657, 4,318 sales). Like for like — same size, type, build period and year — the difference is −0.1% (95% range −2.0% to +1.8%): the EPC band itself is not reflected in sale prices here. 1 of 6 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 81 m² against 81 m² for D–G; the most common build period is 2012 onwards for C+ and 1930–1949 for D–G; 50% of C+ and 50% of D–G sales are detached or semi-detached houses.
| Comparing C+ with D–G homes… | Difference | 95% range |
|---|---|---|
| Raw gap per m² (medians) | +31% | — |
| Whole price, nothing held equal | +28.1% | +24.8% to +31.5% |
| Same floor area | +29.0% | +26.1% to +32.0% |
| + same property type | +29.7% | +26.8% to +32.5% |
| + same build period | +11.0% | +7.9% to +14.2% |
| + same year of sale | −0.1% | −2.0% to +1.8% |
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 M40
| Sector | Sales | Raw gap | Like-for-like | 95% range |
|---|---|---|---|---|
| M40 0 | 567 | +11% | +1.0% | −3.9% to +6.3% |
| M40 1 | 698 | +20% | +2.4% | −1.4% to +6.4% |
| M40 2 | 293 | +38% | +3.0% | −3.2% to +9.5% |
| M40 3 | 961 | +17% | +1.0% | −2.7% to +4.7% |
| M40 5 | 453 | +16% | +0.6% | −3.2% to +4.6% |
| M40 7 | 737 | +36% | too few | — |
| M40 8 | 105 | +37% | too few | — |
| M40 9 | 504 | +44% | +6.9% ▲ | +2.2% to +11.9% |
▲ 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 M40
| EPC band (last certificate before sale) | Sales | Median £ per m² |
|---|---|---|
| B | 759 | £2,333 |
| C | 1,267 | £2,049 |
| D | 1,743 | £1,718 |
| E | 450 | £1,493 |
| F | 70 | £1,266 |
| G | 29 | £1,236 |
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.