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.
Alok Sharma was named the latest Housing Minister on the evening of 13 June 2017.
The MP for Reading West is the 6th person in the role since 2010.
But what will it mean for the housing market? The Guild's CEO, Iain McKenzie, shares his thoughts.
“I welcome the news of the appointment of a new Housing Minister after waiting for five days after the General Election result. However, I am concerned by Alok Sharma’s lack of industry experience. There’s no doubt that his background in accountancy will help with the role, but the housing market is in crisis. We need a government representative who will stand up for the industry. I hope that Sharma can step up to the plate.
“Perhaps more concerning is the lack of a cabinet position for the Housing Minister. Housing was a key concern during election campaigning, but now it looks set to take a back seat in policy making while Brexit dominates the agenda while the sector deals with yet another new housing minister. As CEO of The Guild, I am going to endeavour to raise the profile of the issues facing our industry during this government, no matter how long it lasts for.”
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