Chartered surveyors and auctioneers Landwood Group surveyed a number of property experts, including building surveyors, recovery experts, landlords, investors and developers to get their view on the targets set by the Government - and, concerningly, 95% of respondents said the goal would not be possible to meet.
The national chartered surveyors and auctioneers warn that this 'ambitious law is not only unrealistic but could also have damaging repercussions for the private rental sector'.
The group say that landlords are already selling up in record numbers and, with some of the oldest housing stock in Europe, those with buy-to-lets in the UK are deeply concerned about the viability of this new policy.
Discussions on social media reveal a growing chorus of concern that this mandate could slash profitability and reduce the availability of much-needed rental properties.
Mark Bailey, Partner at Landwood Group, said:
"This so-called ‘green’ initiative might look good on paper, but it’s built on shaky foundations.
“The focus on improving modern social housing, overlooks the vast majority of Britain’s private rental properties which are ageing and would require significant, costly upgrades to meet the EPC C standard.
“For many, achieving this rating is not just challenging; it’s nearly impossible without substantial financial investment.
“Previously, government subsidies helped with upgrades like heat pumps and insulation. Now, landlords have little choice but to sell or raise rents to cover these high costs.”
As a result, Landwood Group is witnessing a surge in landlords auctioning their properties, from single homes to large portfolios.
“The consequences for renters are clear. As landlords are forced out of the market, tenants will face fewer housing options and higher rental prices.
“Energy efficiency is certainly important, especially in light of rising energy costs. But what use is energy efficiency if people can’t afford a place to live? The Government needs to address the housing crisis before imposing such stringent requirements. As it stands, this policy risks doing more harm than good.”
In the social media survey conducted by Landwood Group, most respondents expressed scepticism about meeting the 2030 target given current conditions.
Without a well-considered plan and adequate support, this policy risks destabilising the rental market and potentially undermining the very individuals it intends to protect.
