Analysis of London borough rental properties EPC - compare boroughs

One of the most visible indicators of the UK’s commitment to battling global climate change is the ubiquitous Energy Performance Certificate. This colourful barchart lookalike is not only on electrical appliances but has also featured on every estate agent’s brochure for the last ten years.

Most of us assume that they are a reasonable guide to the amount of energy that we will need to pump into our homes to keep us warm over Christmas and like the new dog, it is with us for life. But it looks like we could all be in for a shock as inconsistencies have cropped up in the system that suggest that pre 1920’s properties are causing anomalies which require a re-calibration of the EPC system.

On top of this from April 2018, any rental property will need to achieve a rating of E or better. With 20% of the housing stock under public sector control and approximately 20% of these properties being below the E rating, this should be seen as a call to action.

Houseprice.AI’s analysis indicates that London’s local authorities have over 110,000 properties that are not just below the EPC rating guidelines, but are also of the age before cavity walls, double glazing, insulated attics and efficient boilers. Continuing to ignore the need to upgrade these properties, is as misguided as buying new buckets, when we really need to spend money on the roof.

Houseprice.AI can also demonstrate that 25% of these properties are in areas where additional investment is also likely to lead to higher than normal ROI’s as the average price per sq ft is in excess of 10% higher than the value of the properties.

In a typical London Borough, we have identified houses in one street owned by the Local Authority which are identical, apart from their poor energy performance, to their privately owned neighbours. Not surprisingly the Local Authority Homes are achieving sales prices of 40% below their real market values. In this street the value range from the highest to the lowest is 200%

Retrofitting the poorer quality housing to achieve an A or a B rating will cost around £15,000 for a typical 3 bedroom home, but could yield a return of 25 to 30% based on rental uplift, as well as saving 50% of the energy bills.

What dog would not be happy in that new home?

Philip Challenor
Chairman
Houseprice.AI

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Data Cleansing for AI

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Houseprice AI is selected by PWC

Houseprice.AI has been chosen as the sole UK company to take part in the PWC Collider Accelerator program. Houseprice,AI was selected to be one of the 12 successful candidates from a highly competitive field of nearly 300 global applicants.

PWC aims to take the most innovative companies using Artificial Intelligence, Big Data analytics and Machine learning, and honing their business models for the international marketplace.

Click this link to read the full PWC announcement

Houseprice.AI COO Rob Marsden who championed the submission said:

"the PWC qualification process was extremely rigorous and forced us to ask searching technical and commercial questions of ourselves, many for the first time. It is a great accolade for the team to know that our answers chimed with such a major international advisor as PWC."

Founder and CEO Eldred Buck added

"We are delighted to be selected from an intensely competitive field to work with PWC in Europe”.

If you would like to know more information about Houseprice.AI , Horizon, or access to our API please feel free to contact us at info@houseprice.ai.


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Do you need more insight?

Introducing Insight

our latest Horizon module

Distill billions of data points to help you identify emerging areas with steady home appreciation and high rental returns.
Compare different areas to identify opportunities. Filter by data indicators including sales value, number of sales, rental yield and more.

Click the location report in the pop up window and drill down into detailed reports on that postcode.

Analyse Trends

Quickly and easily view across England and Wales residential property market using the heat map.

Monitor Risk

There are an increasing number of schemes which are being sold by traditional housebuilders looking for risk reduction in a less than certain new build flats marketplace.

With access to the most up to date supply, demand and price data, you can significantly increase risk awareness in your portfolio.

If you would like to know more information about Houseprice.AI , Horizon, or access to our API please feel free to contact us at info@houseprice.ai.


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Happy New Year from Houseprice.AI

Wishing all our clients, friends and colleagues a very happy and prosperous New Year from Houseprice.AI.

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New Year, new Chairman

Houseprice.AI is pleased to announce the appointment of Philip Challinor as non executive Chairman.

Eldred Buck, CEO of Houseprice.AI, said, "Philip’s long experience and cross disciplinary skillsets means that he is a fantastic addition to the Houseprice team".
Philip is qualified as both a Chartered Architect and a General Practice Chartered Surveyor. He has been President of the UK Chapter of FIABCI, and has sat on a number of RICS boards including The Sustainability Commission, The World Games Commission and the Management Consultancy Faculty.

If you would like to know more information about Houseprice.AI , Horizon, or access to our API please feel free to contact us at info@houseprice.ai.


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Season's Greetings from Houseprice.AI

If you would like to know more information about Houseprice.AI , Horizon, or access to our API please feel free to contact us at info@houseprice.ai.


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