08 Sep 2022
Households living in rental properties across the North of England face the biggest financial headache from soaring fuel price rises, according to a new study.
PropTech data firm Homesearch says its research has revealed which areas have the best and worst Energy Performance Certificate ratings and will be the hardest hit financially.
Tenants in Blackburn will face the highest fuel bills in the coming months, with 78 per cent of rental properties having a poor D-G EPC rating.
This compares to 74.8 per cent of homes in Llandudno, closely followed by Blackpool with 74 per cent.
Conversely, London boroughs dominated the Top 10 most eco-friendly rental areas to live.
Those tenants living in the London borough of Tower Hamlets will experience the lowest energy bills nationally, with 72 per cent of rental properties boasting an A-C rating. This is followed by Southwark and Islington – 63 and 58 per cent respectively.
Homesearch data found that 62 per cent of rental properties in the UK have an EPC rating of D-G meaning they will be hardest hit by rocketing fuel bills.
With average rental prices significantly higher in London than other areas of the UK, Homesearch data also examined which boroughs in the capital are home to the least energy efficient properties.
Renters in Waltham Forest will see the biggest surge in energy bills, with 68 per cent of properties having a D-G EPC rating, compared to Bexley in second and Redbridge in third with both boroughs on 66 per cent.
As Scotland has a slightly different EPC grading system to England and Wales, Homesearch examined rental areas north of the border in isolation and found that Dumfries has the least eco-efficient rental properties.
Sam Hunter, chief operating officer of Homesearch, says: “With rising inflation and the cost-of-living crisis set to worsen, over half of those renting in the UK will pay a premium for their energy usage simply due to the energy inefficiency of their home.
“Our data indicates a clear North-South divide in the environmental viability of rental accommodation and many households are going to struggle to pay energy bills through no fault of their own.
“Although it is a postcode lottery, we envisage that the EPC rating of a property is going to be a key decision factor for tenants when choosing a rental property, especially as energy consumption and prices spiral later this year.”
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