WTF! 450 x increase in gas prices in AFFORDABLE homes!

The Property Nomads Podcast

Rob discusses a concerning situation in Edinburgh, Scotland, where residents in affordable homes have experienced a staggering 450% increase in their gas prices. The properties are part of the Harvester's Way Development, managed by Places for People Scotland, and are connected to a district heating system. This lack of control over gas prices has left residents feeling helpless and frustrated, especially as the properties were marketed as greener and more efficient. The episode highlights the importance of researching heating systems when buying or renting property to avoid being caught off guard by unexpected price hikes.

KEY TAKEAWAYS

• Residents in a development in Edinburgh experienced a 450% increase in gas prices, highlighting the issue of lack of control in district heating systems.
• The development was marketed as greener and more efficient, but residents are now facing unaffordable gas bills, contradicting the initial promises.
• The situation emphasises the importance of researching heating systems before buying, renting, or investing in properties to avoid unexpected cost increases.
• The residents' lack of control over their heating costs due to the district heating system showcases the potential pitfalls of modern build housing and future home standards.
• It is crucial for homeowners, renters, and investors to be cautious about green investments and thoroughly examine the implications of such developments to avoid financial surprises.

BEST MOMENTS

"Prices are on the increase overall, but when that increase is 450%, that's correct, 450, Then we have a bit of an issue."

"Control in the world is important, too much so in terms of World Economic Forum and Club of Rome and that stuff, but this isn't the episode for that."

"This situation just doesn't look good on anyone. It doesn't reflect well on anyone at all, especially as, again, part of that drive to induce people or seduce people into potentially buying and renting these homes."

"You don't want district heating. You don't need community heating because you need to be able to have control over those elements so that you can monitor things properly."

"As long as it's sold as a green investment, and it's good for the environment, and it's good for the economy, then you know, people are going to lap it up."

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https://www.bbc.co.uk/news/articles/cmm2n3527m4o

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