Third of homes for sale fail to meet EPC C rating

Third of homes for sale fail to meet EPC C rating

0:06 AM, 30th October 2024, About A week ago 5

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A third of all homes for sale in Britain have an EPC rating below C, according to new research.

A survey by epIMS, reveals more than 33% of all properties currently listed for sale have an EPC rating below a C, although this figure climbs as high as 46% in some major cities.

The government has announced all private rented sector properties will need to meet EPC C targets by 2030.

However, research by epIMS suggests that upgrading a property could cost £8,000.

Bradford is home to the least energy-efficient properties

According to the survey, in Wales, the number of properties failing to meet the C target stands at 50% while in Scotland it’s 45%.

The same analysis of for-sale stock across 15 major cities by epIMS shows that Bradford is home to the least energy-efficient properties.

The research shows that 46.2% of homes currently listed in the city have an EPC rating below C, with Edinburgh (39.6%), Brighton (39.4%), Bristol (33.9%), and Nottingham (33.5%) also having a significant number of properties with low EPC ratings.

London is home to the most energy efficient for sales market at present, although just shy of a quarter (23.5%) of all homes currently listed for sale still only achieve an EPC rating of D or below.

Upgrading properties could cost thousands of pounds

Chief operating officer of epIMS, Craig Cooper, says the cost of upgrading properties to an EPC C rating could cost landlords thousands of pounds.

He said: “Landlords have had to contend with a raft of legislative changes in recent years, the vast majority of which have dented the financial returns they see from their investment portfolio.

“The requirement to meet an EPC C rating will be the latest initiative that will require many landlords to make further investment, with the average cost of achieving such compliance coming in at around £8,000 per property.”

Mr Cooper adds:   “A greener rental sector is, of course, a positive, however, the issue is that the government takes a fabric-first approach with regard to energy efficiency and that isn’t always the most cost-effective route for landlords.

“For example, small changes such as installing PV panels are far more affordable than internal or external wall installation but could be just the strategy needed to achieve the C threshold.

“This mitigates the need for landlords to spend more than they have to, which in turn reduces the chance that these costs will be passed onto tenants in the form of rental increases, leading to a far less disruptive landscape for renters themselves.”


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Cider Drinker

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7:55 AM, 30th October 2024, About A week ago

I think most of us know that adding insulation can increase the risk of damp and mould, especially in older properties.
We also know that adding Solar PV can achieve a much higher rating. My latest EPC suggests Solar PV would add 12 points (it’s already EPC Rated C).
Labour have committed to Great British Energy…
“clean energy by 2030 is Labour’s second mission”
…so,, why do I need to add expensive Solar PV to my rental properties at a cost of between £3,500 and £5,500 if the certificate is to be believed)? Solar PV requires ongoing maintenance and it may need removing to repair the roof. It would potentially save the tenant £516 per year according to my latest certificate. But I’d increase the rent by at least as much as that to recover my investment and to cover the cost of any repairs,
Why can’t we just wait for Labour’s National Grid powered by green energy? Why do we need to install expensive panels to our properties?
Or is it because Labour will not deliver green energy by 2030, just as they won’t build 1.5 million new homes during this Parliament?

Reluctant Landlord

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9:45 AM, 30th October 2024, About A week ago

The government has announced all private rented sector properties will need to meet EPC C targets by 2030.

This coming from a government who wont be in power by then.

Result? do nothing.

Cider Drinker

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12:39 PM, 30th October 2024, About A week ago

Reply to the comment left by Reluctant Landlord at 30/10/2024 - 09:45
And they haven’t introduced a Bill yet.

I’m not sure Labour know how government works. Hardly surprising since most of them were still in nappies when we last had a Labour government.

GlanACC

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7:54 AM, 31st October 2024, About A week ago

Selling a property of C or less is irrelevant, it only has a meaning to a landlord buying an property.

For a private (non PRS) buyer they largely even now don't take much notice of EPC ratings, a few will but not many. It comes down to location and price.

Keith Wooldridge

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9:48 AM, 2nd November 2024, About 7 days ago

Does anyone know when the revised EPC criteria will be implemented?
Current crazy situation when my flat is rated D,the system ignores that 40% of the external wall abuts other residential,points deducted for installing an ultraefficint Fischer night storage water heater,electric heating to be removed for a fossil fuel gas central heating system,insulation to be laid over woodblock floor on concrete slab on 60cm of fill involving gutting kitchen,bathroom,fitted wardrobes etc to achieve C.
All total madness from a surveyor who has done a 3 day course!

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