The latest research by London estate agent Benham and Reeves reveals that it is going to take the average landlord more than 26 years to recoup the costs of upgrading a sub-C EPC rated property in line with Government plans to improve rental property energy efficiency.

The Labour government has stated its plan to enforce a minimum EPC rating of C for all private rental properties but 2030. Recent research from Zero Deposit has already shown that the upgrades required for all UK properties to meet this requirement is going to create a bill of more than £21bn for landlords.

Benham and Reeves says that the average cost of upgrading a buy-to-let property to an EPC rating of C or above in England is £7,396. This improvement is expected to create an energy bill saving of £280 per year with energy prices as they are right now. As such, it will take the average landlord a total of 26.4 years to recoup the cost of their EPC upgrade with the money they save on their energy bills.

Landlords in London are facing the longest wait to benefit from their EPC upgrade investment. The average cost of upgrading to a C or above in the capital is £7,807 and the expected annual energy bill saving is £247. This means it will take 31.7 years to recoup the investment.