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.
First-time buyers aged between 23 and 40 may soon be able to buy a new home at a discount of a least 20% below market value, under the government’s ‘Starter Home’ initiative.
The properties will start being built this year, the housing minister Gavin Barwell confirmed at the beginning of the New Year, with an initial group of 30 local authority partnerships leading the schemes.
Funding will be supported by the government’s £1.2 billion Starter Homes Land fund, which was established last April.
The fund was set up to assist the aim of building 200,000 Starter Homes by 2020 on brownfield sites in England, such as those currently or previously used for commercial or industrial purposes.
However, critics of the scheme claim that as the maximum price after the discount has been applied will be £250,000 outside London and £450,000 in the capital, the new properties won’t be affordable for many first-time buyers.
It’s expected that they won’t be able to sell on or let their Starter Homes at their open market value for a period of at least five years after the initial sale.
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