The year of sustainable action: the trends we may see unfold in 2022

Average house prices reached new heights in 2021, with the HM Land Registry data from December reporting average prices now at £274,712. This is a significant 10.8 per cent rise in annual prices.

The Stamp Duty Land Tax holiday stimulus achieved its goal with property completions up by as much as 85 per cent in June 2021 compared with 2019, as the industry helped buyers benefit from the financial savings on offer ahead of the 30 June deadline. In addition to this, in late April we witnessed the busiest individual day for mortgage valuations since we started recording daily volumes in 2014.

What will this year bring?
We anticipate that 2022 will be dominated by sustainability issues, and the government's focus on a target of achieving Net Zero by 2050.

As such, this year will be spent putting actionable plans in place across all industries. Last year's COP26 summit brought climate change front and centre, and as a consequence we all now look at what practical measures can be taken to reduce carbon emissions. 

In our industry, lenders will be re-evaluating their green mortgage offerings, as well as taking a sharper look at the energy performance of properties both within new applications and with existing back-book portfolios.

Energy Performance Certificates
At present, Energy Performance Certificates (EPCs) only really matter when buying, selling or renting a property.  I anticipate that there will be greater use of EPCs or even other measures of property performance. They should help people better understand where energy-related improvements could be made, and perhaps we may see preferential mortgage rates being offered on those homes with higher ratings.

The surveying community that we work with will play a pivotal role in supporting lenders with the measurement and accurate assessment of properties? performance metrics, and therefore having access to leading data tools and reporting technology will continue to be of great importance.

Fundamentally, everyone knows that we all need to be far more environmentally conscious. There is a responsibility on everyone to help make this happen.  Here at Landmark, we have already signed the Pledge to Net Zero 2050 initiative, and I am confident that this year will be the year when organisations across the country commit to do the same.


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