Let’s talk about energy efficiency and the housing market this week. Before Covid-19 hit, Climate change was high on the agenda. It was going to be a major focus of the property market.
Last week the chancellor put it firmly back in the spotlight with their latest scheme. Homeowners will be able to apply for up to £5,000 of vouchers for energy-efficient home improvements from September 2020. Double glazing, insulation, boilers, energy-efficient doors and energy-saving light bulbs are expected to be among the home improvements eligible for financial support from the government.
The energy efficiency of houses in England has improved over the last decade. The average SAP rating, used to calculate EPC, is now 63, up from 53 in 2008. A third of dwellings are now in the highest EPC band, A to C.
The announcement of the Green Home Grant will help cut energy emissions further, which is important to many households.
Green homes are something worth thinking about for landlords too. 86% of tenants said that an environmentally sustainable home is important or nice to have. It also helps with the household bills too and if the Uk should go into a recession, this is something tenants will be looking at very closely!
If you are thinking of investing in the local Lancaster or Morecambe Housing Market, please get in touch. At JDG we are here to help.
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Source: Dataloft, English Housing Survey