Propertymark has warned that leaseholders remain affected by rising costs, complex rules and market uncertainty, despite legislative progress on leasehold reform.
The latest report from Propertymark, the professional membership body for property agents, has highlighted ongoing issues in the buying and selling of leasehold properties.
Since 2018, service charges for flats have risen by 51.7%, primarily due to the introduction of additional fire safety measures.
Property buyers in the North West of England are increasingly investing in leaseholds, drawn by the rapid development of cities and compelling affordability in the region.
After Competition Market Authority (CMA) action, thousands of leaseholders who paid a doubled ground rent will receive refunds.
The government's ban on charging ground rent on leases in England and Wales comes into force on 30 June 2022.