EPC rating and sold prices in SO51 (Test Valley)
In postcode district SO51 (Test Valley), homes rated EPC C or better sold for 3% more per square metre than D–G homes (median £4,077 vs £3,939, 5,914 sales). Like for like — same size, type, build period and year — homes rated C or better sold for 3.5% less (95% range −5.0% to −2.0%). 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 89 m² against 91 m² for D–G; the most common build period is 2012 onwards for C+ and 1967–1975 for D–G; 49% of C+ and 63% of D–G sales are detached or semi-detached houses.
| Comparing C+ with D–G homes… | Difference | 95% range |
|---|---|---|
| Raw gap per m² (medians) | +3% | — |
| Whole price, nothing held equal | −3.5% | −6.1% to −0.8% |
| Same floor area | +1.0% | −0.4% to +2.3% |
| + same property type | +3.4% | +2.1% to +4.7% |
| + same build period | +0.1% | −1.6% to +1.8% |
| + same year of sale | −3.5% | −5.0% to −2.0% |
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 SO51
| Sector | Sales | Raw gap | Like-for-like | 95% range |
|---|---|---|---|---|
| SO51 0 | 1,683 | −3% | −11.4% ▼ | −18.2% to −4.0% |
| SO51 5 | 840 | +8% | +1.3% | −1.0% to +3.6% |
| SO51 6 | 512 | −4% | −2.8% | −8.0% to +2.6% |
| SO51 7 | 1,454 | +5% | −3.4% ▼ | −5.0% to −1.6% |
| SO51 8 | 1,226 | +8% | +1.9% | −1.4% to +5.3% |
| SO51 9 | 199 | −11% | too few | — |
▲ 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 SO51
| EPC band (last certificate before sale) | Sales | Median £ per m² |
|---|---|---|
| A | 14 | £4,930 |
| B | 1,694 | £4,206 |
| C | 1,638 | £3,982 |
| D | 1,840 | £3,927 |
| E | 525 | £3,969 |
| F | 174 | £3,890 |
| G | 29 | £4,310 |
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.