RICS issues ‘ground breaking’ retrofitting guidance

A new standard for residential retrofit work has been issued by the Royal Institution of Chartered Surveyors (RICS) today.

The standard, which comes into effect from the end of October, meets the need for high quality retrofit advice, RICS says.

Spurred on

It has been developed by a team of experts ‘spurred on’ by high energy prices and government net zero targets.

And will provide a framework which RICS members can use to advise their customers on retrofit options in homes across the UK.

The standard, which was drawn up following an eight-week consultation period, also ensures that consumers receive advice from skilled, regulated professionals, RICS says.

Unique

It is intended to be applied across the UK residential sector, and is the only one of its kind designed to support surveyors as well as provide assurance to both consumers and lenders.

A survey of RICS members showed greater interest from buyers in homes that are more energy efficient, with 39% reporting an increase in demand, up 5% from June last year.

Around a quarter reported seeing buyers highlight poor energy efficiency as a reason for making a below asking price offer, and 37% said that higher energy efficient homes were holding their value in the current market.

It is critical that advice is given by a highly qualified professional.”

Paul Bagust, Head of Property Practice at RICS, says: “As homeowners increasingly look to explore ways to retrofit their homes to improve energy performance, it is critical that advice is given by a highly qualified professional.

“It is clear, especially from the results of the extra questions added to our monthly residential survey, that there is a market need for a standard that facilitates quality, reliability and consistency, and the RICS Retrofit Standard does just that.”

The new standard can be found here