Landlords in England could face a £20 billion bill to upgrade their rental properties to meet the Energy Performance Certificate (EPC) C standard by 2030, as more than half (50.1%) of private rented properties currently have an EPC rating below C.
The average cost to upgrade each property is estimated at £8,000, totalling £19.8 billion for all substandard properties.
London faces the highest costs, with a £4.7 billion bill to upgrade 1.2 million rental properties. The West Midlands follows with a £2.2 billion cost. Other regions like the South East, North West, and East Midlands also face significant bills, totalling billions across the country. The smallest cost is in the North East, where £517 million is needed.
The Labour Party’s proposal for a 2030 deadline to meet EPC C standards is a major concern for landlords, as this plan, though not yet law, signals a likely legal requirement for such upgrades in the near future.
