The Home Builders Federation (HBF), together with Octopus Energy, have found this equates to a 21% saving compared to older homes.

Their report, ‘Watt a Save’, has also found energy efficiency measures such as heat pumps, solar panels and car charging points can increase a home’s property by up to £6,000.

When analysing the EPC ratings of new homes, the report found most to be A or B rated.

This makes them, on average, 39% cheaper to run than an older home with an F or G rating.

To upgrade an existing home to the same energy efficiency standards of a new build would cost between £23,100 and £83,000.

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On the environmental side of things, new builds were calculated as having significantly lower emissions than older homes.

Homes with EPC ratings of A or B emit roughly 2,179kg of carbon each year while — for comparison — those rated F or G emit around 3,787kg.

“New build homes deliver lower running costs and a smaller carbon footprint, providing homeowners with long-term savings and a more sustainable way of living,” said Neil Jefferson, CEO at the HBF.

“With energy prices such a major part of a household’s expenditure and increasingly influencing decisions around where and how people live, choosing a new home has become an increasingly practical and cost-effective option.”