A survey of surveyors, private landlords, investors and developers has deemed the government’s EPC target as “impossible.”
The survey was extremely small - just 21 individuals canvassed by a property consultancy - but the verdict was almost unanimous.
In mid-July, the new Secretary of State for Energy Security and Net Zero, Ed Miliband, announced that landlords will need to raise the standard of their accommodation to an EPC standard C by 2030. This echoed similar policy put forward by the last Conservative government, although it was later abandoned ahead of the General Election.
Mark Bailey of Landwood Group - the firm which conducted this latest survey - says: “This so-called ‘green’ initiative might look good on paper, but it’s built on shaky foundations.
“The focus on improving modern social housing, overlooks the vast majority of Britain’s private rental properties which are ageing and would require significant, costly upgrades to meet the EPC C standard.
“For many, achieving this rating is not just challenging; it’s nearly impossible without substantial financial investment.
“Previously, government subsidies helped with upgrades like heat pumps and insulation. Now, landlords have little choice but to sell or raise rents to cover these high costs.”
His firm claims to have seen a surge in landlords auctioning properties, from single homes to large portfolios.
He continues: “The consequences for renters are clear. As landlords are forced out of the market, tenants will face fewer housing options and higher rental prices.
“Energy efficiency is certainly important, especially in light of rising energy costs. But what use is energy efficiency if people can’t afford a place to live? The Government needs to address the housing crisis before imposing such stringent requirements. As it stands, this policy risks doing more harm than good.”
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