CSS: 71% of property professionals think EPC ratings should be reflected in value
More than two-thirds (71%) of property professionals believe valuers should reflect Energy Performance Certificate (EPC) ratings, according to a webinar poll carried out by Countrywide Surveying Services (CSS).
These responses emerged at CSS’ regular webinar series, with this session focusing on legacy and new stock, plus the challenges and opportunities of moving to a low carbon built environment.
Almost 200 people actively engaged with the session, with the audience consisting of lenders, brokers, surveyors and other property professionals.
Further polls were taken during the webinar around EPC ratings and energy efficiency.
When asked whether lenders should reflect EPC ratings in mortgage rates, 56% said yes, with 44% saying no.
Six in 10 (59%) believed that the house buying public would pay more for an energy efficient property, while 41% thought they would not.
In addition, when asked who should fund retrospectively required energy efficient measures, only 3% suggested that the public should foot the bill, 24% implied it was the government’s responsibility with 73% highlighting that it should be a mix of public and government funding.
Matthew Cumber, managing director of CSS, said: “Awareness around the green mortgage market and energy efficiency is clearly rising at pace.
“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/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.”