A recent study has found that homeowners are more likely to prioritise their energy bills over their rent or mortgage.
Conducted by multinational retail company and B&Q owner, Kingfisher, the European Home Report 2014 features the responses of 17,000 households across nine European countries.
Sixty-five per cent of the respondents stated that the rising costs of their gas and electricity bills is their main priority – more than double the 23 per cent who said they were worried about keeping up with their mortgage or rent payments.
Supporting these figures, the study by Kingfisher also highlighted that home owners are eight times more likely to implement energy efficiency changes than they were two years ago – when the first European Home Report survey was carried out. A third of the respondents said they were planning to update their home's energy efficiency measures in order to lower their energy bill costs.
Chief executive at the Kingfisher group, Sir Ian Cheshire, said: "Rising energy prices are a very real fear - right across Europe, a bigger concern even than worries about paying the rent or mortgage.
“There is a staggering increase in the number of people who intend to prioritise energy efficiency and it is soaring bills that is driving this agenda”, he concluded
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