Editor's note: This brief was summarised by The Property AI Newsroom from a report by Property118. Read the original article for full details.
London Receives First Devolved Retrofit Funding for Social Homes
The Mayor of London has received new powers and funding to improve the energy efficiency of social housing in the capital. Sadiq Khan has announced more than £58 million in new funding to upgrade the energy efficiency of over 5,000 homes across London.
This development marks the first time that retrofit funding for social homes in London has been devolved to the city. The funding aims to support energy efficiency improvements in social housing, which is a key concern for letting agents and inventory clerks managing properties in the capital.
The announcement comes as all private rented sector (PRS) homes will be required to meet EPC C targets. This is particularly relevant for those involved in property management and inventories, as energy efficiency standards are becoming increasingly important in the UK property sector.
Letting agents and inventory clerks should be aware of these changes, as improved energy efficiency in social housing may influence future requirements and expectations for other types of rental properties. The funding is expected to benefit more than 5,000 homes, contributing to the wider goal of raising energy standards in London’s housing stock.
Source: Property118