Would-be sellers should check the Energy Performance Rating of their home before listing to maximise saleability, according to Mortgage Advice Bureau.
Research carried out on behalf of the organisation found that only a third (27%) of people know their home’s EPC rating. However, they could be missing a trick as energy efficiency is now a key selling point, according to MAB.
The survey found that good insulation (46%) is now more popular and in demand compared to a larger garden (29%) or even a new kitchen and bathroom (34%). But with so few knowing their EPC rating and a fifth (21%) only finding out due to their estate agent asking for one, homeowners should be doing more, according to Ben Thompson, deputy CEO at Mortgage Advice Bureau.
“We need to get to the stage where most homeowners know what their energy rating is,” he said. “Particularly with energy prices so high, people want to know how a home stacks up when it comes to retaining heat and what a good rating is.”
The average home in the UK only manages an EPC rating of D according to the Office for National Statistics. To combat inefficient housing, the UK government has set a target of 2025 for landlords to have rental properties at a minimum of band C, and 2035 for all other properties. This will require many homes to retrofit their properties with modern energy-efficient materials to meet the requirements.
According to MAB, signs point to a willingness to achieve this, with 27% of the public wanting to make their homes more energy efficient. “A good EPC rating is clearly in demand, and with good reason,” said Thompson.
Comments (3)
On implementation of EPC in 2007 the consumer wasn’t interested. Since then, the continued drive towards Eco philosophy has shoved EPC’s in front of everyone and there certainly has become a measure of interest into wanting to know the rating as a buyer or renter but it still lags way behind in my experience.
A ‘G band’ property can look like it should be on the cover of a chocolate box, while a modern all singing and dancing Band C/B are some of the ugliest properties around and I have yet to see one weather well, for after a couple of years the exteriors have turned drab.
Buyers and tenants still look from the heart, not the EPC rating which frankly is only going to save you a couple of hundred pounds a year at best on utility bills but many £thousands to get there.
EPC Band C for lettings, is a nonsense and will be the final blow to a demoralised industry and horrendous shortage of property supply. An EPC ‘Band C’ is not an EPC ‘Band C’ carbon emissions rating but bands lower for older properties. Government don’t do it.
i would say it is increasing in priority but still low on the list of things buyers are interested in
Two of my children are currently property hunting and certainly the EPC rating is relevant to them.