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Understand The Importance Of The EPC

December 3rd 2021
By: Intercounty
Understand The Importance Of The EPC

If you plan on selling your home, you need to have an EPC, or Energy Performance Certificate, in place. This is something we are more than happy to assist you with.

However, we think it is important you familiarise yourself with the findings of your EPC, and what it means for your home. A recent study shone a light on a lack of knowledge amongst homeowners when it comes to understanding what the EPC means.

EPC information can save you money

From the study, it seems as though people aged between 24 and 28 years old, classed as millennials, have the best understanding of EPC ratings, and 38% said they know what their property’s EPC rating is.

Further information contained in the study carried out by the Mortgage Advice Bureau, which looked at what would convince people to make significant changes at their property, include:

  • 24% of respondents saying they would carry out improvements if there were sufficient Government initiatives

  • 22% of respondents said they would carry out improvements if Government legislation forced them to

Brian Murphy, Head of Lending at Mortgage Advice Bureau, comments: “The importance of consumers knowing their EPC rating is paramount to them not being hit by higher costs or charges down the line. However, the government has a vital role to play in improving consumer engagement and awareness on EPC ratings and their plans to decarbonise homes. For many, retrofitting homes will be too strong a financial burden and thus out of reach. It is therefore up to the government and the industry to work together to incentivise people to improve their homes, rather than reward those who already live in energy-efficient properties.”

Home improvements can be costly

A recent study found by the Nationwide found that if you have a home with an F or G rating, it will cost around £25,800 to carry out effective energy efficient improvements at your property.

For homes with an E or D, it might cost you up to £8,100 to bring your property up to standard.

We know that home improvements can be expensive. Even if you realise that there is a long-term benefit to be made from these changes, it can be difficult to justify the cost up front for a lot of work.

If you would like to discuss your options on entering the housing market, or what sort of changes will be of benefit to you, please get in touch.

How is the Harlow market faring?

According to Rightmove, as of December 2021, house prices in Harlow are as follows:

Properties in Harlow had an overall average price of £341,106 over the last year.

The majority of sales in Harlow during the last year were terraced properties, selling for an average price of £295,978. Semi-detached properties sold for an average of £385,486, with detached properties fetching £507,343.

Overall, sold prices in Harlow over the last year were 7% up on the previous year and 7% up on the 2017 peak of £318,422.”

For property enquiries in Harlow, please feel free to call us on 01279 639666 or why not email us at harlow@intercounty.co.uk. With considerable experience in the local market, and free valuation services, we look forward to helping you move