The current minimum rating that private landlords must achieve before letting out a property is EPC band E. An EPC rating is valid for 10 years and is a legal requirement for buy-to-let property investors.
Research from Rightmove has shown that improving a home’s EPC rating can increase its value. By upgrading from an F to a C certificate, homeowners see an average boost to the property’s value of 15%, or £55,786 in cash terms.
In a separate report, Rightmove also found significant differences in energy bills when comparing highly rated properties to those lagging behind. Their data revealed that a G-rated 1-bedroom apartment had an average annual bill of £6058, while a 1-bedroom with a B rating typically had an average yearly bill of just £695.
While many in the property sector welcome moves to make the industry more environmentally friendly, a report from Hamptons last month concluded that it is likely to take much longer than 6 years to upgrade all UK properties to an EPC level of C.