Property giants slam Government’s lack of action on EPC upgrades

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An influential new report has slammed the Government’s lack of progress on its much-heralded desire to see the property sector reach ‘net zero’ by 2050.

Published today jointly by the British Property Federation and property giant JLL, the report is critical of Government policy and implementation on the ground within the residential sector to make properties greener.

This includes how a lack of good housing data means many EPCs can be hopelessly inaccurate, and the BPF says this makes it difficult to calculate accurate operational carbon and set realistic carbon reduction target.

The report also cites official policy and regulatory uncertainty and a lack of financial incentives to support the retrofitting of buildings are ‘hindering progress’.

Considerable cost

“Transitioning to net zero comes at considerable cost, and without robust evidence of a return on investment, many property owners lack the confidence to invest in major energy efficiency upgrades,” it says.

The two organisations are calling on Ministers to set up a task force to look at the funding and practical challenges faced by home owners and private landlords, and also:

• Publish the results of its consultation on its proposed ‘performance-based’ energy rating system for properties;
• Confirm the details of its new MEES regulations;
• Reveal how landlords will be helped to reach the looming higher EPC targets for private rented properties;
• Zero rate VAT on residential repairs and maintenance;
• Overhaul capital allowances to incentivise investment to decarbonise.

Read the report in full.

Melanie Leech (pictured), Chief Executive, British Property Federation, comments, “The property sector is fully committed to decarbonisation but there are huge barriers and costs to overcome.

“We urge the Government to adopt the policy recommendations in this report and to work with us to make sure we can deliver a net zero built environment by 2050.”

Read more: Key dates - what does 2023 have in store for landlords?

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