Energy Efficiency Improvements – Agents Demand Cash Help For Rental Sector
Propertymark says new figures detailing the costs of energy efficiency improvements in the private rental sector show the need for a government financial package.
The latest English Housing Survey figures released this week show that the average cost to bring a privately rented dwelling up to EPC C is £7,646.
This is compared to £5,979 for a social rented dwelling, or £8,579 for owner occupiers.
Without incentives or accessible funding, Propertymark is concerned that it is likely that energy efficiency targets for the property sector will not be met.
The Green Homes Grant scheme provided householders and landlords with support for the cost of installing energy efficient improvements in their home. However, the government only funded up to two-thirds of the cost of home improvements up to £5,000 and the controversial scheme closed in March this year.
Timothy Douglas, Propertymark’s policy and campaigns manager says: “The latest English Housing Survey confirms that a long term, costed and well-funded plan is desperately needed to encourage households and landlords to make energy efficiency improvements to their properties and meet government targets.
“It also clearly highlights that the Green Homes Grant scheme wasn’t offering enough support based on the proposals to improve property to EPC Band C and any revised or reintroduced scheme must be increased from £5,000 to £10,000 maximum.
“Similarly, it is vital that the government move away from a one-size fits all policy and develop energy efficiency proposals that work with the different age, condition, size and location of properties across the country. This way grants and funding support can be targeted on the archetype of a property rather than its tenure.”
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