EPC rating and sold prices in SO40 (New Forest)
In postcode district SO40 (New Forest), homes rated EPC C or better sold for 1% less per square metre than D–G homes (median £3,629 vs £3,681, 6,514 sales). Like for like — same size, type, build period and year — the difference is +0.8% (95% range −0.1% to +1.7%): 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 80 m² against 83 m² for D–G; the most common build period is 1983–1990 for C+ and 1950–1966 for D–G; 48% of C+ and 70% of D–G sales are detached or semi-detached houses.
| Comparing C+ with D–G homes… | Difference | 95% range |
|---|---|---|
| Raw gap per m² (medians) | −1% | — |
| Whole price, nothing held equal | −6.5% | −8.4% to −4.6% |
| Same floor area | −3.3% | −4.5% to −2.2% |
| + same property type | +4.0% | +2.9% to +5.0% |
| + same build period | +3.6% | +2.5% to +4.7% |
| + same year of sale | +0.8% | −0.1% to +1.7% |
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 SO40
| Sector | Sales | Raw gap | Like-for-like | 95% range |
|---|---|---|---|---|
| SO40 2 | 1,218 | +1% | −0.5% | −2.4% to +1.3% |
| SO40 3 | 1,282 | −6% | +2.4% ▲ | +0.1% to +4.9% |
| SO40 4 | 961 | −2% | −0.2% | −2.0% to +1.7% |
| SO40 7 | 775 | −2% | +1.8% | −1.0% to +4.7% |
| SO40 8 | 1,451 | −1% | +0.9% | −0.5% to +2.3% |
| SO40 9 | 827 | +1% | +2.6% | −0.1% to +5.3% |
▲ 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 SO40
| EPC band (last certificate before sale) | Sales | Median £ per m² |
|---|---|---|
| A | 3 | too few |
| B | 253 | £3,448 |
| C | 2,259 | £3,650 |
| D | 3,159 | £3,689 |
| E | 697 | £3,618 |
| F | 114 | £3,702 |
| G | 29 | £4,289 |
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.