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.
We would like to take this opportunity to thank you
for your continued support which has made 2017
such a successful year
and we look forward to working with you
in 2018 and beyond.
After months of hard work, our new website finally went live over the weekend and is looking fantastic! Why not have a good look around and see what amazing new features and information are included.
Our new banner has arrived today ready for tonight, and it looks great!! We are proudly sponsoring the Pink Wig event which is part of Falmouth Week and raises funds for vital research projects, the best care for breast cancer patients in Cornwall and a safer future for the next generation.
The latest monthly report produced by the Royal Institution of Surveyors has indicated that the housing market is stabilising in the wake of the UK’s vote to leave the EU.
The report gathers the observations of surveyors across the country, and is considered to be a good measure of confidence within the market.
Following the referendum result, initial findings suggested a drop in prices as uncertainty amongst buyers grew. Members of the Institution are now forecasting an increase of around 3.3% a year for the next 5 years.
One of the main factors in the predicted increase is a shortage of property for sale. Average numbers on estate agents books have been dropping over recent months, with numbers close to the record low recorded last December.
However, the recent base rate cut, record low mortgage rates and low unemployment levels, should help to boost the confidence of potential buyers over the next few years, as negotiations to leave the EU begin.
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