Energy efficiency

Policy makers must move away from a one-size fits all policy and develop energy efficiency proposals that work with the different age, condition, and size of properties. This way grants and funding support can be targeted based on the architype of a property rather than its tenure and making each property as energy efficient as possible. As a result, property is not lost from the private rented sector and buildings do not become too expensive to improve.

In order to effectively plan to retrofit homes, homeowners and landlords require clarity on how energy efficient property need to be, how it will cost and by when. Currently, there is no definitive target that has been legislated for, only recommendations from multiple reports. The UK and Devolved Governments need to develop a long term policy framework and legislate on clear targets for EPC ratings for people to implement energy efficiency measures

The vast majority of Propertymark sales agent members have made it clear that investing in energy efficiency does not lead to higher house prices which would under different circumstances provide a sufficient incentive. Until this is the case, alternative incentives such as vouchers to cover the costs of retrofit evaluations, loans and grants to pay for energy efficiency improvements, allow energy performance improvements to be offset against rental income or the ability to offset improvement costs against capital gains tax must be provided to support homeowners and landlords to take action.

Vital to meeting decarbonisation targets will be solving the challenge of convincing landlords and homeowners of the benefits of retrofit and making energy efficiency improvements to property. The views of landlords and owner occupiers will play a significant role in the success of retrofitting, which will substantially impact the uptake of energy efficiency improvements and retrofit programmes, even if government funding exists to cover the cost of retrofitting.

Information would be transferable across building owners and help maintain sight of a long-term decarbonisation goal for the building. The process would not replace EPCs, but enhance them, creating an opportunity to capture EPC data digitally and add to it with other data over time. A Property Passport would also provide detailed guidance on the actions required, and already undertaken, to improve the property, based on building fabric and operational data helping building owners and occupiers make decisions to improve the energy efficiency of buildings.