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Frustration as Rishi Sunak abandons EPC targets

The property industry has been frustrated with Prime Minister Rishi Sunak’s move to eliminate EPC targets and delay other green policies.

Landlords have been told they must bring EPCs up to a minimum level of C by 2028 (originally 2025) for some time, only for the goalposts to be moved again.

The ban on new oil and gas boilers, as well as coal heating off the gas grid, will be delayed from 2026 to 2035, while the poorest households will be exempt from the gas boiler ban.

Jonathan Daines, founder and chief executive, of lettingaproperty.com, said: “The government’s U-turn on introducing new energy efficiency regulations on homes is frustrating for our landlord clients, many of whom have already taken steps to ‘do the right thing’ in preparation for change.

“With the planned EPC changes looming, many landlords in our community proactively improved the energy efficiency of their properties. They incurred significant costs and practical hassles, to make energy efficiency upgrades in line with proposed EPC minimums.

“Some of our landlords even took the drastic step of selling their property because it was financially or practically impossible to make necessary improvements.

Paresh Raja, chief of specialist lender Market Financial Solutions, made similar comments.

He said: “Many landlords will have already improved the energy efficiency of their properties at great expense, so today’s announcement may trigger some frustration.

“Moreover, the next general election could result in the winning party reintroducing new EPC rules anyway, so the decision brings further uncertainty into a property market that would benefit from greater stability.

“Meanwhile, there are some renters who will worry about living in properties with poor energy efficiency – their bills this winter will reflect that.

“The shift towards a greener property market should be welcomed and encouraged. Today’s announcement will offer some relief to landlords in the short-term, but the long-term goal – as in every industry – must be to work together towards a more sustainable future. Ultimately, greater clarity around long-term reforms is required within the property sector now.”

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