Given the high-level of analysis relating to energy charges, it is no surprise that the impact of rising energy bills and the rental market is now being examined.

At Just Lets Peterborough, we want to provide you with the best standard of service and support, especially during these tough times.

What property types are best for energy efficiency?

Sarah Coles, senior personal finance analyst at business consultancy Hargreaves Lansdown, says: “The age of a property is the single biggest factor in determining how energy efficient it’s likely to be. Almost all homes built since 2012 in England and Wales have a high energy efficiency rating – compared with 12 per cent of those built before 1900 in England and 8% of those of the same age in Wales. The next most important factor is size. Flats and maisonettes are most likely to be in the most efficient bands and detached homes are the least likely to be. It means that big, detached Victorian homes are costing people dear.”

A review of rental property on Rightmove, as at the start of September 2022, indicates 275 rental properties listed for Peterborough. This isn’t the full scale of the Peterborough rental market, but as the largest property portal in the country, Rightmove is useful in gaining an overview of what is happening.

A breakdown of the property listed for rent include:

  • 19 detached properties
  • 28 semi-detached properties
  • 40 terraced properties
  • 116 flats
  • 3 bungalows

With flats being the most significant property type in the Peterborough property market, at least this meets the size criteria mentioned by Sarah Coles from Hargreaves Lansdown.

If you’re a landlord in or around Peterborough looking for guidance on providing rental property that helps tenants manage their finances as best they can, we are here for you.

Stay in touch with expected rising costs

As a landlord, you need to know the challenges your tenants face, and at Just Lets Peterborough, we are more than happy to do this on your behalf. Rising energy bills will cause significant problems for many households across the country, and it is important to be aware of the increased financial pressure people are under.

The following statement gives an overview in the changes, and challenges people face, and if you want someone to liaise between yourself and tenants during these difficult times, we are the local letting specialists you can trust in Peterborough.

Nationwide chief economist Robert Gardner says: “We’ve looked at the impact of rising energy costs on average bills for properties with different energy efficiency ratings (as reported on energy performance certificates). Currently (based on the April 2022 price cap), the most energy efficient properties (those rated A-C) pay £1,700 per year, whilst the least efficient (those rated F-G) typically see bills over twice as high at c.£3,900 p.a. As things stand, from October, average bills for D-rated properties (the most common type) are set to rise by just over £1,250 a year, even after taking account of the government’s £400 discount. Those in properties rated A-C will see average bills increase by nearly £1,000 a year (or over £80 per month).”

Just Lets – Here to Help

If you are a landlord in or around Peterborough, and you need assistance in managing your rental property, we can help. We know these are challenging times for landlords, but there is a demand for rental property. When you need guidance in the local market, contact Just Lets Peterborough today, and we will be happy to help you.

The team at Just Lets Peterborough continue to operate remotely to ensure we can continue to serve you and your tenants throughout this covid period and beyond.  Please contact us through our usual channels – email us at peterborough@justlets.com or call us today on 01733 346255.

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