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On Thursday 2 May 2024, Londoners will cast their votes for the next Mayor and 25 Assembly Members. With a population of over nine million, and the highest house sales and rental values in the country, London presents unique challenges. Propertymark has written to the candidates outlining our housing plan for London, highlighting key priorities for the next four years and our proposals for addressing the city’s crisis in housing availability.
Phase two of the Home Upgrade Grant (HUG2) is a UK Government-funded scheme for properties in England that are not connected to the gas grid. £630 million has been allocated to Local Authorities to provide energy efficient upgrades and low carbon heating to eligible households between April 2023 and March 2025.
The UK Government’s detailed proposals for the 2025 Future Homes and Buildings Standards will amend existing legislation to set new minimum energy efficiency requirements for buildings in England. Most changes will apply to new homes and non-domestic buildings and should ensure no further work will be needed for new buildings to produce zero carbon emissions as the electricity grid decarbonises.
There are approximately 350,000 listed homes in England, and approximately 600,000 commercial properties dating from before 1919. The impact of the cost-of-living challenges means fewer households and businesses can afford the required work to install energy efficiency upgrades. This, in combination with increased costs for historic building retrofit skills and materials, makes comprehensive retrofit action unobtainable for many property owners.