Who Cares About EPCs? - just 2% of agents “always” asked by tenants

Only two per cent of Propertymark letting agents say tenants “always” want to know the EPC rating on a property they view.

Another 86 per cent say tenants “sometimes” want to know, and 12 per cent suggest renters ”never” want to know. 

Propertymark asked its residential agent members how often their tenants asked about EPCs - and got the 2/86/12 per cent split.

On the residential sales side, 11 per cent said always, 73 per cent sometimes and 15 per cent reported never.

Propertymark says that government grants that cover a broader range of home improvements are the only way to drive change, with its research discovering that 72 per cent of residential and commercial agents cite this as being the most important factor. 

This is closely followed by offering larger grants for home improvements, where 67 per cent say that allowing energy efficiency improvement costs to be offset against capital gains tax, and reduced tax on the purchase of home movers next property is a key incentive.

Timothy Douglas, the agents’ trade body head of policy and campaigns, comments: “Our most recent research shows that, while interest in energy efficiency ratings is growing, a higher EPC rating of a property is not having a significant impact on the sale price in most instances.

“If governments and departments across the UK are serious about moving to net zero through reducing the energy consumption in homes and buildings, landlords and homeowners need a greater financial incentive and support to make energy efficiency improvements.

“The majority of our member agents agree that the best way to do this is to provide clarity on targets, enhance the role of EPCs and introduce grants that cover a broader range of improvements, which is especially important at a time when rising mortgage and other living costs are making it more difficult for many homeowners and landlords to foot the bill for these upgrades.”

In October 2021, the UK Government published its Heat and Buildings Strategy that set out how the UK will decarbonise homes and our commercial, industrial and public sector buildings, as part of setting a path to net zero by 2050.

Since then, Propertymark says the moving of goalposts for properties to reach a minimum EPC C rating has taken place with continual consultations on various reforms. Targets and regulations are also under review by the governments and departments in Wales, Scotland and Northern Ireland.

Starting with a review of the influence of Energy Performance Certificates on the decisions of homebuyers, property investors, and tenants, Propertymark’s latest report reveals that while there is some consumer interest in EPCs, the level of importance varies across different sectors.

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