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.
Stamp Duty is changing for first-time buyers.
In the Budget 2017, Chancellor Phillip Hammond announced that Stamp Duty would be exempt for people buying their first property if it costs under £300,000. For first homes under £500,000, you won’t have to pay Stamp Duty on any the first £300,000, which will reduce the amount you need to save.
• On a £300,000 home, first-time buyers won’t have to pay any Stamp Duty, instead of a £5,000 charge.
• For a £500,000 property, Stamp Duty will now be £10,000 instead of £15,000.
• If your first home costs over £500,000, you will not get a discount.
Watch our quick video to get a great overview of the changes and what they mean:
|Property price||Previous Stamp Duty cost||New Stamp Duty cost for first-time buyers||Saving|
It all means that it should make it easier for first-time buyers to get on the property ladder and make the housing market move faster at all levels.
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