Home Property 60% of homes change hands with EPC C or above

60% of homes change hands with EPC C or above

3rd Jan 25 12:30 pm

Research fromย epIMS, the EPC and energy efficiency platform developed for landlords, reveals that 60% of all homes to reach the market over the past year held an EPC rating of C or above, as buyers, tenants and housebuilders increase the attention theyโ€™re giving to energy performance ratings.

epIMS analysed the number of homes that have been sold, let, or constructed in England & Wales over the past 12 months (Q4 2023 โ€“ Q3 2024) to see how many held an EPC rating of C or above and how this compares to the numbers from the previous 12 months (Q4 2022 โ€“ Q3 2023).

The analysis found that over the past 12 months, 60.2% of all homes to have been sold, let, or constructed in England & Wales held an EPC rating of C or above, marking an increase of +1.6% on the previous year.

In London, 64% of homes reached the market with a rating of C or above, which is the highest proportion across all regions.

This is followed by the North East (61.8%), South East (61.5%), North West (61.5%), and East of England (61.4%).

Every region except the North East have seen an increase in the proportion of C or above properties coming to market this year.

Yorkshire & Humber has seen the biggest annual increase of +3.9%, followed by the East Midlands (+2.4%), West Midlands (+1.8%), and East of England (+1.7%).

Increased focus on EPCs

The growing proportion of properties coming to the market with an EPC rating of C or above highlights the increased attention that energy performance is being given by tenants, buyers, and housebuilders.

This focus is only likely to increase further as recently, Halifax โ€“ one of the nation’s biggest mortgage providers โ€“ announced that it would start toย include a propertyโ€™s EPC rating in its mortgage affordability calculations, due to the impact that utilities expenses have on the cost of living and, therefore, a homebuyerโ€™s household budget.

COO of epIMS, Craig Cooper, said, โ€œItโ€™s great to see an increased awareness of EPC ratings among tenants and buyers, as they develop their understanding of how a homeโ€™s energy efficiency impacts both the global environment and household expenses.

But an EPC rating isnโ€™t necessarily reflective of how eco-friendly a home is, and not enough people know that the overall EPC rating of A through to G doesnโ€™t give the full, genuine picture of whatโ€™s going on within the home. For example, Air Source Heat Pumps are an environmentally friendly way of heating a home, but provide less of a boost to the EPC rating than an efficient traditional gas boiler.

True understanding of a homeโ€™s energy efficiency is only available when you study the EPC score on a much closer level, which means knowing how numerical EPC points accumulate to create the overall letter rating. This is how you get a full picture of a homeโ€™s energy efficiency and, more importantly, the steps required to improve it.โ€

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