Billions to be spent in green housing
A report from the Federation of Master Builders says up to £6.5 billion a year could be spent by householders on greening their homes.
The report says if moves were made to encourage people to upgrade existing housing stock the market would be worth between £3.5 billion and £6.5 billion a year. FMB director of external affairs Brian Berry said for the market to develop, people must want or need to renovate.
He said the Government should act on recommendations in the report, entitled Transforming the UK's Existing Housing Stock.
Mr Berry added: "The research clearly demonstrates the need for the Government to urgently formulate a clear, decisive housing policy to -upgrade Britain's existing homes if we are to have any chance of -cutting carbon emissions by [the target of] 80 per cent."
The report suggests the Government should offer financial incentives for people to begin refurbishment such as council tax rebates and lower VAT.
Mr Berry said the first houses to be refurbished should be Government-owned as it is important to show it is committed to the policy.
The report's author, Gavin Killip from Oxford University's Environmental Change Unit, said: "Bringing British homes up to standard is possible using existing technology but the skills and industry base to deliver the necessary change is underdeveloped."
A review of training and a development of the necessary skills are also needed, the report says.