Understanding leasehold

The UK Government has used the Labour Party Conference to set out a series of significant housing and property sector reforms, including tougher action against landlords who fail to maintain their properties and confirmation that the regulation of property agents will be introduced. These plans are likely to have far-reaching implications for Propertymark members working across the sales, lettings and property management sectors.

The UK Government has acknowledged that homeowners may need greater protection from the unreasonable enforcement of restrictive covenants, following concerns raised by MPs over unexpected and potentially significant demands for payments. The move reflects issues Propertymark has highlighted through its long-running campaign for meaningful leasehold reform and greater transparency for property owners.

Propertymark has urged the UK Government to ensure that reforms to the building lifecycle support property agents, improve the home-moving process, and give consumers confidence that building work has been completed properly. Our members work closely with other professionals throughout the life of a building, and we have highlighted how consistent standards, clear responsibilities, and reliable records would help agents provide a better service to sellers, buyers, landlords, tenants, and leaseholders.

The proportion of owner-occupiers has changed little over the past decade and remains below its 2003 peak, while high prices, large deposits, and a weak development pipeline continue to restrict access for first-time buyers and suppress mobility for those already on the property ladder. New planning rules may help, but government and industry evidence supports Propertymark’s position that wider reform is needed across housebuilding and the buying and selling process to restore adequate supply and revitalise the market.