Propertymark has urged the Welsh government to make financial support available for homeowners to improve the energy efficiency of the country’s rental stock.
The estate agency group said Ministers need to be mindful of the retrofit requirements of homes based on their location and individual characteristic, as well as focus on upskilling the workforce.
The Welsh government has been consulting on how to decarbonise the country’s stock, as it looks to achieve its net zero ambition by 2050.
Timothy Douglas, head of policy and campaigns for Propertymark, said: “Wales faces unique challenges with house prices that are lower than the UK average and the oldest housing stock out of any UK nation. This will make it difficult for landlords and homeowners to afford sufficient decarbonisation measures on their homes.”
“Given that the UK government is looking to make an EPC C rating mandatory for all newly rented properties in England and Wales by 2025 and 2028 for existing tenancies, the Welsh Government will need to take decisive action to ensure its private housing stock can meet these targets. Without a long-term national strategy to support private landlords and homeowners to retrofit their properties, Wales will struggle to decarbonise the sector.”
As it stands Propertymark said high upfront costs are a barrier to investment, particularly for owners of rented properties, because they may not directly benefit from lower energy bills.