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.
LAND REGISTRY DATA: JANUARY 2016 (released 26 February 2016)
The January 2016 Land Registry data showed a monthly increase in average house prices across England and Wales of 2.5 per cent and an annual increase of 7.1 per cent.
Regionally, the highest monthly increase was seen in Wales at 3.7 per cent, followed by London at 2.8 per cent; prices decreased in the North West and the North East by 0.4 per cent and 1.6 per cent respectively.
The average house price in England & Wales now stands at £191,812 and in London at £530,409. London saw the highest annual increase in prices at 13.9 per cent, followed by the South East at 10.7 per cent and the East at 8.9 per cent. The lowest annual increase was seen in the North East at 0.2 per cent, but no region experienced a fall. In terms of property type, flats and maisonettes showed the highest annual increase at 8.2 per cent, while the lowest increase was seen in semi-detached properties at 6.5 per cent.
In greater detail, eleven counties and unitary authorities saw an annual fall in prices, the greatest again being Hartlepool at minus 3.8 per cent; Reading continued to experience the highest annual rise at 16.1 per cent. The strongest monthly growth was seen in the Isle of Anglesey with an increase of 4.1 per cent, while Blaenau Gwent had the most significant monthly drop at minus 3.5 per cent. Six counties and unitary authorities saw no monthly price change.
Of the metropolitan districts, Knowsley continued to show the largest annual price increase at 8.8 per cent; only two districts saw a fall, the greatest being Sunderland at minus 3.2 per cent. Newcastle upon Tyne experienced the highest monthly price increase at 2.1 per cent, while Liverpool and Knowsley both saw the greatest monthly fall, each with a movement of minus 1.5 per cent.
Of the London boroughs, Hillingdon had the highest annual price rise at 15.5 per cent and the highest monthly price rise at 2.4 per cent. Camden saw the smallest annual increase at 3.0 per cent, while both Camden and Islington experienced the only monthly fall, each with a movement of minus 0.4 per cent.
The volume of properties sold in November 2015 was 2 per cent lower than a year earlier in England and Wales and 7 per cent lower in London. Over the same period, properties sold for more than £1 million across England and Wales as a whole rose by 14 per cent and in London by 9 per cent.
Month on month, the total number of properties sold across England and Wales fell from 79960 in October to 72167 in November – a fall of 9.7 per cent. The number of property transactions from August 2015 to November 2015 averaged 78,652 per month, compared to 81,656 over the same period a year earlier.
Value My Property