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 December 2016 house price index data showed a monthly drop of 0.1 per cent across the UK, minus 0.1 per cent in England and minus 1.2 per cent in London.
Regionally, the East of England experienced the highest monthly growth at 1.3 per cent, while prices in the North East fell by minus 1.3 per cent.
On an annual basis, prices across England rose by 7.4 per cent, bringing the average house price to £232,655.
Despite the dip this month, London prices rose by 7.7 per cent from January to October, making an average London home cost £474,475.
Flats and maisonettes are performing best, with a 7.6 per cent rise compared to October 2015, proving that they can be a great investment. Terraced properties have seen the slowest growth, rising by 5.4 per cent.
We have the England sales figures for August, and they show a 20.3 per cent drop compared to August 2015. Though that still equates to a lot of people moving, with 67,396 properties exchanging during the month.
The average price of a new build property in England in October was £307,983, which is up 28.6 per cent up on a year ago. Meanwhile, resold property prices averaged at £210,917, which dipped by 0.7 per cent from September, but this is still 5.4 per cent higher than the same time last year.
So what does this tell us? Figures are holding steady, but we aren’t seeing the constant growth that was commonplace before the Brexit vote and extra stamp duty changes, which came into force in 2016.
However, flats and maisonettes are still proving to be great for investors with their steady rise in prices.
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