EPCs & how they Can Impact the Residential Development Market
EPCs & how they can impact the residential development market
In our previous blog, we looked into the impact of new Energy Performance Certificates (EPCs) requirements in the commercial property market. EPCs have made a significant impact across the UK property building market since their inception and so we wanted to follow up on how the EPC regulations are shaping the future of the residential building market.
EPCs have become an essential part of the property market in the UK, providing valuable information on the energy efficiency of residential properties. Introduced in 2007 as part of the government’s commitment to reducing carbon emissions and improving energy efficiency, EPCs are required for all properties that are being sold or rented.
Residential Property
When it comes to building a residential property, having a high energy performance rating can significantly impact its future marketability and value. Potential buyers are becoming increasingly aware of the importance of energy efficiency, not only for reducing their carbon footprint but also for saving on energy bills. Properties with a high energy performance rating (A to C) are likely to be more attractive to buyers, as they offer lower running costs and a more comfortable living environment.
EPCs provide an objective assessment of a property’s energy efficiency, taking into account factors such as insulation, heating systems, and lighting. This information is presented in a clear and easy-to-understand format, allowing buyers to make informed decisions about the energy efficiency of a property. Properties with a high energy performance rating can command a higher sale price and sell more quickly than those with a lower rating.
Furthermore, EPCs are required by law when selling a property, so sellers must ensure that they have a valid certificate before putting their property on the market. Failure to provide an EPC can result in financial penalties, delays in the sales process, and even potential legal issues. By obtaining an EPC and improving a property’s energy efficiency where necessary, sellers can increase their chances of attracting buyers and achieving a successful sale.
Build to Let Properties
From a renting point of view, EPCs play a vital role in helping tenants make informed decisions about the energy efficiency of a property. Landlords are required to provide an EPC to potential tenants before signing a tenancy agreement, giving them valuable information about the property’s energy performance and potential running costs. Tenants are becoming increasingly conscious of their energy usage and are more likely to seek out properties with a high energy performance rating.
Properties with a low energy performance rating (D to G) may be less desirable to tenants, as they can result in higher energy bills and a less comfortable living environment. Landlords who invest in improving the energy efficiency of their properties can attract a wider pool of tenants and potentially command higher rental prices. EPCs also provide landlords with recommendations for cost-effective energy-saving measures, helping them make informed decisions about improving their property’s energy efficiency.
How can Synergy help?
We have over 20 years of experience in planning and property and, as a result, a large part of our working history has been involving EPCs and their impact on property. Whether you are looking to renovate, extend or build a new property, we have the expertise and know-how to ensure you have all energy saving options available to you when you are at the plan drawing stage through until build completion. Synergy can advise on any EPC impacting building additions to find the best solution for you, your build requirements and your budget. If you are planning a project and would like to find out how we can help, please contact us, call us on 01634 710 881 or email info@synergyppc.co.uk.