Groundsure introduces new suite of analysis to their ClimateIndex

Groundsure has recently introduced an extensive suite of innovative analyses designed to address transition risks associated with climate change impacts that might influence property decisions. These changes come in response to the UK’s climate and environmental risk data authority setting a new standard by offering enhanced guidance for energy performance and flood resilience in residential property transactions.

This new development includes property-specific Energy Performance Certificate (EPC) ratings, personalised recommendations for energy efficiency improvements, and, where relevant, estimates for flood mitigation costs. All of this is now included as part of Groundsure’s ClimateIndex ™ and is provided at no additional charge in their residential searches, Homebuyers and Avista, as well as their commercial searches Screening and Review.

What’s unique about this guidance is its ability to compare a property's EPC rating to those of comparable properties in the local area. Transition risks, which encompass factors like evolving regulations and requirements aimed at enhancing energy efficiency and flood resilience, are increasingly critical aspects of property transactions, running alongside the more conventional physical risks such as flooding, subsidence, and coastal erosion.

The ClimateIndex™ analysis has revealed some important trends over the past decade. There has been a substantial increase in the percentage of homes rated C or higher, rising from 31% in 2014 to 58% in 2023. The most significant improvements have occurred in Liverpool, Manchester, and Preston. Conversely, the North East and Wales have seen the slowest rates of improvement. An interesting correlation has also emerged between higher house prices and EPC ratings, with areas like East Central London, East London, and West Central London boasting the highest average EPC ratings, while parts of Wales and the South West are falling behind. However, there are exceptions in high-value property areas in London, such as Bromley, Kingston, and Twickenham, where EPC ratings are low, highlighting the potential for energy efficiency enhancements to have a substantial impact on property values.

This innovative offering from Groundsure not only provides valuable insights into the environmental and energy-related aspects of property transactions but also demonstrates a commitment to helping homebuyers and conveyancers navigate the evolving landscape of climate and environmental risks in the UK's housing market.  

If you have any questions about these changes, and how they might affect your clients, contact your account manager.

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