Surveyors

Written by Annabel Gallocher

Key developments in 2024 

The previous UK Government set a legally binding 'net zero' target to reduce the UK's net emissions by 100% by 2050 compared with 1990 levels. In the UK, an estimated 25 million homes require a form of energy improvement. In response to this target, the new residential retrofit standard was launched in March 2024 and came into full effect on 31 October 2024. 

RICS members conducting retrofit surveys and delivery retrofit services to all types of residential occupiers are now required to follow the new standard, which outlines a comprehensive approach to retrofit assessments, planning and execution. The standard will enhance the quality of retrofitting services and will support RICS professionals to reflect RICS' current strategic objectives in sustainability.

In light of rising energy prices, retrofitting is an attractive way for homeowners to improve the energy efficiency of their properties and therefore keep energy costs down. It is also an attractive way for prospective sellers to increase the value and desirability of their homes. Paul Bagust, Head of Property Practice at RICS, said "Homeowners are increasingly exploring retrofit to improve energy performance. It's critical they receive advice from qualified professionals."

The standard has been developed through the collaboration of an expert working group comprising energy professionals, surveyors, lenders, real estate agents and academics, with legal input from RPC. This followed an extensive public consultation between July to September 2023, to ensure the standard would align with market needs and regulatory requirements.

For further information regarding the new standard, please click here.

What to look out for in 2025 

Following the creation of the RICS Home Survey Standard in 2019, which came into effect in 2021, RICS are undertaking a review of that standard with the aim of delivering a revised document for home surveys in 2025. The standard was created with the aim of setting mandatory standards for RICS members and regulated firms conducting residential property surveys, to maintain consistent and high-quality standards. 

By updating the standard, RICS' goal is to deliver a revised document that: 

1. Meets member requirements.
2. Provides a clear framework for qualified RICS members and regulated firms.
3. Considers consumer sentiment and sector developments.
4. Accounts for third parties working with the standard in their respective areas.
5. Reflects opportunities and risks in the sector.

The review of the standard follows a lengthy consultation with members of the RICS, and is being undertaken by an expert working group, which includes Alexandra Anderson, Partner of RPC.  Once the draft is ready, the RICS will undertake a public consultation on its terms with a view to submitting the final version to the Knowledge and Practice Committee and the Standards and Regulation Board for approval and publication later in the year.

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