Will Rising Energy Bills & Oil Prices Crash The Market?
In this episode, Mark gives an update on energy, particularly on how this will impact landlords and the property market. KEY TAKEAWAYS The government has confirmed that landlords will need to meet an EPC rating of C or better by 2028 for new and existing tenancies. The best ways to go from a D or an E to a C rating is by a few small changes, such as energy saving lightbulbs, adding a storage heater or adding solar panels. Start planning for your properties now, as the deadline gets closer EPC experts will become busier and it will be more costly for you to make the necessary changes. There are exemptions, particularly if it’s going to be very costly for you to improve. Some landlords will be selling due to this which presents investment opportunities for those who are willing to put the work and knowledge in. Fuel prices will start to fall this year as wholesale priced drop and alternative options become available. Diesel and petrol prices have dropped significantly, almost hitting pre-2020 levels. This means that electric car demand has also dropped, they aren’t as financially attractive as they were. BEST MOMENTS “I think quite a few landlords are selling because of this, this could be an opportunity” “More and more of these sources of energy are coming online now” “I don’t think the energy cap will be needed in the same way going into 2024” VALUABLE RESOURCES https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/ ABOUT THE HOST Mark has bought, sold or has managed around 1,000 property units for himself, Rob, his family and his investors since 2003. He is a systems and spreadsheet geek and has developed a complex, confidential deal analyser system of buying residential, commercial and multi-let properties. CONTACT METHOD Email: Markhomer@progressiveproperty.co.uk LinkedIn: https://www.linkedin.com/in/markhomer1 Facebook: https://www.facebook.com/markprogressive Twitter: https://twitter.com/markprogressive‘Brought to you by Progressive Media’: https://progressivemedia.uk/