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.
Without a crystal ball, how can you possibly know where an up-and-coming area might be? Finding a location that is on the cusp of a boom is not just about finding the trendiest spot in town; the right location which could make a property a much stronger investment for the future.
Local estate agents have in-depth knowledge of the local area and are the perfect people to guide your property search. However, there are several pointers to help you spot the next best thing:
When people have a greater disposable income, there tends to be a larger number of independent retailers. Keep your eyes peeled for new boutiques, delicatessen or niche food chains. Bear in mind that for bigger stores there is a significant volume of market research conducted before the expensive of opening a new store is considered – use this as a steer in your search.
Anywhere within a five-mile radius of good transport links has a lot of potential. Many will already be popular and therefore expensive, but taking a closer look at the map could pay off. While this approach may mean going a little further down the train line, you should consider this as a tactical, and practical move.
The age within a local area can be a good indicator of future desirability. With young professionals in their twenties and thirties in abundance, there tends to be a subsequent influx of retailers and businesses to accommodate.
Days on Market
If a property is selling fast, it can only be a good sign! Take a moment to investigate how long properties in your search area are taking to sell, if it is a long time it would suggest the market is not working its way up to fever pitch in the near future.
As well as what is already in close proximity, it is also worth investigating whether there are any future development plans, such as new transport links or schools. New build developments are another tell-tale sign that the area is worth investing in.
To make the absolute most of your search and get the detailed knowledge you require, find your local Guild estate agent.
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