Research reveals over a third of UK properties for sale have EPC ratings below Band C.
- EpIMS indicates 46% of homes in major cities fall short of the proposed EPC standards.
- New regulations require privately rented homes to achieve a minimum EPC rating of C by 2030.
- Landlords could face significant costs, averaging £8,000, to comply with new EPC regulations.
- The push for an energy-efficient rental sector may lead to financial burdens for property owners.
Research from epIMS has highlighted a pressing issue in the UK property market: over one-third of homes currently listed for sale possess an Energy Performance Certificate (EPC) rating below Band C. This issue is even more pronounced in certain urban areas, where up to 46% of properties fail to meet the proposed standards. Such findings suggest a widespread challenge that the real estate sector must address to meet regulatory expectations.
The current governmental mandate requires that all privately rented properties attain at least an EPC rating of C by the year 2030. This move is part of a broader initiative to enhance energy efficiency across the housing sector. However, it poses a considerable financial challenge for landlords, who may need to invest significantly to upgrade properties to the required standards. The average expenditure to achieve these improvements stands at an estimated £8,000 per property, a cost that not all property owners may be prepared to bear.
The epIMS analysis encompassed over one million property listings, revealing stark regional disparities. In Wales, for instance, over half of the properties listed fall below Band C, while Scotland’s figure is just under this. Although England shows a comparatively better compliance rate, the fact remains that 33.2% of its homes still fall short of the necessary criteria, with the most significant deficiencies noted in Bradford and other cities like Edinburgh, Brighton, Bristol, and Nottingham.
Despite the daunting costs, achieving improved energy efficiency in rental properties is seen as a step forward. The greener rental sector is expected to benefit both the environment and tenants in the long run. Craig Cooper, COO of epIMS, acknowledged the financial strain on landlords but advocated for cost-effective solutions. He suggested that smaller adjustments, such as installing photovoltaic panels, could be more economical than extensive structural renovations, highlighting a path that might mitigate the financial burden on landlords and potentially avoid rental price hikes for tenants.
The drive towards energy-efficient housing is reshaping the UK’s property landscape, presenting both challenges and opportunities.
