Energy efficiency now more important for homebuyers
By Richard Wright | 21st January 2022
Property buyers are becoming more discerning when it comes to energy efficiency, according to a Gloucestershire estate agent.
George Tatham-Losh, director of Move Sales and Lettings, based in Cheltenham, says buyers are paying more attention to Energy Performance Certificate (EPC) ratings and will factor the cost of any improvements into the price.
He said: "EPCs used to be a thing that no one ever really cared about. Now in this day and age, it's one of the main things we get asked when we do viewings."
Renters may even turn down a property that's got old fashioned electric storage heaters, he said.
George added: "The eco credentials of a property are going to become more and more important."
He suggested small local developers needed to start putting more money into energy performance measures.
"It's going to pave the way for which properties people do or don't buy," he said.
Meanwhile, the latest survey from the Royal Institute of Chartered Surveyors (RICS) reveals that a shortage of properties is continuing to drive house prices higher.
There were more enquiries from buyers in December, but the average number of homes on estate agents' books remains low.
Simon Rubinsohn, chief economist at the RICS, said: "The longer-term metrics capturing five-year expectations suggest the industry for now continues to anticipate prices and rents outpacing wage growth beyond the end of this year, in the absence of a major uplift in new supply."
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