Majority of property professionals believe EPC ratings should be reflected in valuations

More than two-thirds of property professionals (71%) believe valuers should take EPC ratings into consideration when valuing a property, according to a webinar poll carried out by Countrywide Surveying Services (CSS).

The response emerged at the company’s regular webinar series, with this particular session focusing on a panel discussion around legacy and new stock, plus the challenges and opportunities of moving to a low carbon built environment.

Almost 200 people took part, with the audience consisting of lenders, brokers, surveyors and other property professionals. 

The panel included Kieran Walker, group technical director at the Home Builders Federation; Clive Sandom, corporate account manager at Leeds Building Society; and Adrian MacDiarmid, head of mortgage lender relations at Barratt Developments, who joined John Baguley, director of technical, risk and compliance at Countrywide and Matthew Cumber, managing director at Countrywide. 

Further polls were taken during the event around energy efficiency, which revealed that 59% of respondents believe that the house buying public would pay more for an energy-efficient property.

When asked whether lenders should reflect EPC ratings in mortgage rates, 56% said yes.

In terms of who should finance retrospectively required energy-efficient measures, the majority of property professionals (73%) think it should be a mix of public and government funding.

Only 3% suggested that the public should foot the bill, while 24% implied it was the government’s responsibility. 

“Awareness around the green mortgage market and energy efficiency is clearly rising at pace,” said Matthew.

“With changes to the minimum energy ratings in the offing, it’s clear that surveyors, lenders, intermediaries, homeowners, landlords and potential buyers all need to be fully aware of the challenges or opportunities involved in moving to a low carbon built environment.

“As always, these polls make for some interesting reading and discussion. 

“A variety of issues around EPC ratings will continue to be at the centre of many debates, and it’s clear from the data that there’s a growing clamour for them to be taken into account when it comes to the valuation process and, to a lesser degree, mortgage rates, and this is a discussion which I expect to gather further momentum in H2 2021.”

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