Finding The Energy

Posted on: 3 February 2018

FINDING THE ENERGY

From 1st April, all new rental leases and renewals of tenancies will be required to have an energy performance rating of at least E on an Energy Performance Certificate (EPC). For existing tenancies, the regulations come into force on 1st April 2020. We wondered how much tenants are prepared to pay for energy efficiency. Properties across England and Wales let in 2017 with an energy performance rating of E achieved 3.1% more per square foot than properties let with an F or G rating. On an 800 square foot property, this equates to an average of £360 per year. The majority of landlords are well prepared, but we calculate that around 7% of properties let in 2017 still need to be brought up to the standard required. Best prepared are London landlords where just 4.9% of properties let last year were lower than an E rating, while in the South West more than 10% of properties did not meet the standard. At the top of the scale, properties with an A or B rating achieved, on average, 31% more per square foot than F and G rated properties in 2017. On an 800 square foot property, this equates to an average premium of £3,600 per year.

Share:


Recent Articles

22 January 2019

The Nation's Most Active Markets

The impacts of Brexit, stamp duty reform and mortgage regulation have all created a low transactional environment in the housing market, which both buyers and sellers have had to adjust to in recent years. During the second half of 2018* the average rate of turnover (sales as a proportion of...

22 January 2019

A Nation Of Twitchers

This weekend (26th to 28th January) is the 'RSPB’s Big Garden Watch', an event which encourages the public to take part in an annual survey of birds to monitor specifies that are thriving or in decline. Our love of the nation’s birds has inspired both street and home names across...

18 January 2019

How Your Phone Can Help You Have The Best Year Yet

2019 is upon us and we are well into a new digital age. Technology is everywhere and this week’s blog is going to offer up some suggestions on how you can harness its powers and let it help you to have the best year yet. You see lots of things these days about over usage of mobile phones,...

semi circle instant online valuation

Get an instant online valuation

Find out how much your property is worth