CNP - General - UK
Date: 31 Mar 2008
More than half of developers, landlords and occupiers will not be prepared for the introduction of Building Energy Performance Certificates (EPCs) when their requirement becomes law on 6th April 2008, according to a survey conducted in March 2008 by building and project consultants CNP.
The survey, conducted at a number of regional EPC road shows organised by CNP in conjunction with DLA Piper, and covering key UK locations, reveals that 51% of respondents believe they are not yet prepared for the introduction of EPCs; 44% are only part-prepared, and only 5% said they were fully prepared.
The survey also revealed that few respondents currently believe the introduction of EPCs will have an impact on the commercial property market in the short term, although a large number (42%) do acknowledge that poorly performing buildings will become harder to market in the long term. Of those surveyed, 49% believe that nothing will change in the commercial property market in the short term as a result of the introduction of EPCs; 33% believe EPCs will provide no benefit at all.
"The survey results indicate that many respondents have not yet prioritised the introduction of EPCs and are still considering the impact that they will have in the long term," comments Andrew Tee, CNP's technical director. "The concern is, while the Government has announced that if a property is on the market before 1st April then a six month grace period will be given to the preparation of an EPC, any property coming onto the market after that date will require
Landlords to have an EPC ready at the time particulars are given to an agent and prospective tenants will expect to have an EPC available when viewing. Given the lack of preparation this survey indicates, it seems therefore that there may be a short-term scramble to ensure compliance, particularly as only accredited organisations can register EPCs."
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