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The original government plans state that properties may need to reach a C rating for new tenancies by 2025 in England and Wales, and for all tenancies by 2028, although there have been some recent reports suggesting the government may delay this. There is yet to be any official confirmation
New analysis by property portal Right Move shows that based on the current rate that homes are improving, it would take 43 years for all houses for sale on Rightmove to reach at least an EPC rating of C, and 25 years for flats for sale. In the rental market, it would take 31 years for all houses for rent on Rightmove to reach at least an EPC rating of C, and 16 years for flats.
Right move also states that 33% of all landlords with properties below an EPC rating of C plan to sell rather than improve them, up from one in five in 2022. While 61% of landlords would not buy a rental property below an EPC rating C, up from 47% in 2022
According to the report, a property moving from an F to a C rating could increase a property’s value by an average of an additional 15%, or almost £56,000 when looking at the current national average asking price.
So, if you are a landlord in #Anglesey or #Gwynedd #NorthWales and wish to discuss the best outcome for your property, please contact your local property professional at #Williamsand Goodwin we would be please to help.
Link to the full report Here.
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Williams & Goodwin The Property People are members of the Guild of Property Professionals, National Association of Estate Agents, Association of Residential Lettings Agents, National Association of Valuers and Auctioneers and are Chartered Valuation Surveyors we are members of a National Network of approximately 800 independently owned and operated Estate Agents.
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