A well-regarded estate agent in Northumbria has reacted angrily to Ed Miliband's plans to ban landlords from renting out homes with low EPCs, saying it would be a “catastrophe” and lead to a mass exodus of landlords.
The agent, who asked not to be named, told The Neg that many of the homes in his area are old detached sandstone buildings that are not even connected to the gas grid. Around three-quarters of them are in band D or E and it would simply not be economical to bring them up to the required EPC 'C' grade.
He believes his research shows around half of landlords will react to Miliband's plans by selling their properties when their current leases come to an end – this includes all those who own Band E properties and around half who own Band D properties. 
I think the industry is sleepwalking towards its own destruction.”
To compound the problem, even if you spend money to upgrade your property, the results can be highly unpredictable as the systems are not fit for purpose.
He cites the example of one homeowner who recently spent £42,000 renovating one of the area's typical sandstone houses, insulating the walls and floors, buying a new heating system and adding insulation to the attic.
Shocked
The owners were shocked to find they were only given a low D rating and were advised to install solar panels or wind turbines in the garden, which would cost a further £25,000 but would save tenants £2,400 on energy bills.
The figures just don't add up. Tenants say they've never spent more than £1,600 on energy bills, yet the EPC insists their normal outlay is around £4,200.
And it's not just the cost that's an issue, agents add: to insulate a wall, for example, architraves, baseboards and doors all need to be removed – a job that often takes several weeks and requires tenants to move out.
He concludes: “I think the industry is sleepwalking towards its own destruction” and “by the time they realize what's really going on, it will be too late.”
