Private rental sector lacks incentives to hit Net Zero - agents

ARLA Propertymark says it’s a strong fan of New Zero ambitions but warns that the private rental sector needs incentives to reach green goals.

It makes its case in a response to a Welsh Government consultation on the issue - ARLA insists the Welsh Government needs a clear plan to decarbonise its housing stock and achieve Net Zero 2050.

Propertymark says high upfront costs are a barrier to investment, particularly for owners of rented properties because they will not directly benefit from lower energy bills.

The trade body says Welsh political leaders need to understand the retrofit requirements of homes based on their location and individual characteristics, and make sustained financial support available for homeowners alongside investment in up-skilling the workforce to ensure the plan can be delivered.

Timothy Douglas, head of policy and campaigns for Propertymark, says: “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.”

Propertymark has released a full copy of its consultation response to the Welsh Government here.