9:58 AM, 23rd March 2023, About 2 years ago 22
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Time is running out for England’s landlords to meet the Government’s proposed deadline to improve rental property EPC ratings to a C, one homebuying firm says.
The Open Property Group says that just 41% of homes in England meet the recommended Energy Performance Certificate (EPC) rating of ‘C’ or above – up 1% from last year.
This is despite government moves to reduce the country’s carbon footprint by boosting energy efficiency in homes.
The EPC scale is ranked from A-G and is used to measure the efficiency of a property based on the level of its emissions, its potential heat or energy loss and its likely fuel costs.
The firm’s managing director, Jason Harris-Cohen, said: “There has been a lot of noise around ‘greening up’ the UK’s property stock, and despite multiple campaigns and press coverage, homeowners are woefully behind the Government’s target.
“The pressure is really building for landlords especially, as we are less than two years away from the new EPC deadline.
“As things stand, a huge chunk of buy-to-let properties will be illegal to let from the end of 2025, unless the properties receive energy efficiency upgrades to achieve a minimum EPC rating of C.”
He continued: “A measly 1% increase in ‘C’ rated homes reflects the troubles landlords face.
“While changing light bulbs and adding an extra layer of insulation to the loft will no doubt help, the major alterations that really improve an EPC are expensive.
“Double glazing, solar panels and heat pumps tick the boxes but they are expensive items to purchase, cause major disruption to install – perhaps even requiring the tenant to temporarily vacate – and there is no proven return on investment for newer technology.”
He added: “There’s also the added complication of a lack of materials and labour, meaning even the most willing of landlords are thwarted.”
Currently, 63% of properties in the City of London meet the EPC rating of ‘C’ or above – the same percentage as 12 months ago.
Salford is a close second with 59% of properties meeting the recommended energy rating, a 1% increase on the previous year.
And, for the second year running, Birmingham was ranked last, where only 33% of homes meet the target energy rating.
Bath and Brighton both fell below the national average, with just 38% of their homes scoring an EPC rating of ‘C’ or above.
On a regional basis, the research shows that London has 46% of its properties meeting the rating ‘C’ or above, while Yorkshire and The Humber was the lowest scoring region on the list with just 36% of homes meeting the recommended EPC standard of ‘C’.
Mr Harris-Cohen said: “It’s interesting that Yorkshire and the Humber was the worst region for homes with ‘C’ ratings.
“Buy-to-let yields in the region are some of the strongest in the UK – perhaps landlords are reluctant to compromise their strong income by investing in eco improvements – a sentiment we feel is being repeated across the UK.”
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Jakjak
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Sign Up6:36 AM, 8th May 2023, About 2 years ago
Reply to the comment left by Rickie Dickson at 07/05/2023 - 10:53
Good points. I hadn't thought of that.
There needs to be some way to correlate energy bleed from the house to actual usage and living conditions in relation to EPC recommendations (which could be a highly subjective DEA view in my opinion)
Reluctant Landlord
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Sign Up18:01 PM, 8th May 2023, About 2 years ago
Reply to the comment left by northern landlord at 23/03/2023 - 17:12
what defined a commercial landlord and a domestic landlord?
Surely all landlords could claim they are commercial as they are renting properties as a business and inevitably have to pay for commercial insurance?