Propertymark, in partnership with the Leasehold Knowledge Partnership and the National Leasehold Campaign, has released its ‘Still a Life Sentence’ survey, assessing the impact of recent leasehold changes on leaseholders and property agents in England and Wales.
In 2018, Propertymark’s initial report highlighted issues faced by leaseholders, leading to legislative changes like the Leasehold Reform (Ground Rent) Act in June 2022 and the ongoing Leasehold and Freehold Reform Act 2024.
In the King’s Speech of July 2024, the Labour Government announced plans to introduce further leasehold and commonhold reforms.
Campaigners want to highlight ongoing issues to prioritise areas most affecting leaseholders.
According to Propertymark concerns remain over rising costs, like cladding remediation delays, which aren’t being fully addressed.
Many leaseholders feel stuck in unsellable properties due to increasing service charges, particularly in cladded flats, while property agents face similar challenges with escalating costs and ground rents.
Nathan Emerson, CEO of Propertymark, said: “Propertymark is pleased to work once again with our colleagues from the National Leasehold Campaign and the Leasehold Knowledge Partnership.
“Nearly seven years on from when our Leasehold: A Life Sentence? report made a considerable impression on legislative change, our members and leaseholders know that they still face many challenges.”
Emerson added: “With the latest movement to improve the leasehold system, we hope that this survey can shed light on how we move forward and provide home buyers and sellers with greater protections and rights.”
Martin Boyd, chair of trustees at the Leasehold Knowledge Partnership, said: “The Leasehold Knowledge Partnership welcomes the Propertymark survey into the costs being faced by leaseholders and the problems that both consumers and estate agents now face when buying and selling leasehold homes.
“This new survey will give a very useful longitudinal comparator of what’s changed over the intervening years and provide insight at a critical time.”
Katie Kendrick, founder of the National Leasehold Campaign, said: “This follow-up survey is very timely in light of current outstanding reforms and the need to reinforce the message that urgency and delivery are needed.
“Evidence from our members indicates that very little has changed except that leases are reducing in length, ground rents are escalating, service charges have increased and premiums to extend or buy the freehold are escalating well beyond the means of most.
“Leaseholders cannot afford to wait any longer.”
Kendrick added: “The situation leaseholders are facing is worse than ever with many being left in a desperate situation, trapped with no way out.
“We urge all leaseholders to participate in this survey so that Propertymark can present hard data to the UK Government and generate change.”
