It has been nearly ten years since the Leasehold: A Life Sentence report was published, launching a sustained Propertymark campaign. Despite the introduction of the Leasehold and Freehold Reform Act 2024—of which only 10 of 125 sections have come into force—leaseholders continue to face significant financial pressures, rising and often unjustified service charges, and ongoing building safety concerns.

Voting opened on 21 May 2026 for members to elect a Propertymark Board Director and the next Vice Presidents for our sales and lettings divisions. By taking part, members help influence how the profession is represented, shape the professional body's future priorities, and strengthen the credibility of member-led representation.

The UK Government has launched a consultation on the design of the surcharge, first announced in the 2025 Autumn Budget, which is expected to apply to homes in England valued at £2 million or more from 2028. If the reforms are to address unfairness in the existing system effectively, property values must be assessed consistently and updated regularly and clearly so consumers can calculate their council tax.

The UK Government has set out further reforms across housing, communities, and local government. Proposals affect leasehold, building safety, social housing, local authority standards, and tourism levies, all of which could impact local housing markets and influence the way councils, owners, agents and residents interact.

The UK Government has set out how it intends to ban the sale of new leasehold flats, expand the legal framework, and improve accessibility to make commonhold the default tenure for flats in both residential and mixed-use developments. Propertymark welcomes efforts to address the entrenched problems in the leasehold system, and we have put forward our recommendations for strengthening the draft legislation, ensuring the role of professional managing agents is recognised and supported, and the sector has adequate time to prepare.

The UK Government is implementing a major overhaul of the Right to Buy scheme, including increasing minimum tenant eligibility to 10 years, cutting the maximum discounts to 15%, and introducing a 35-year exemption for new builds. These reforms aim to stop the rapid depletion of social housing stock, allowing councils to retain and rebuild homes, with 100% of sales receipts available for investment starting in 2026–27.

Matthew Pennycook MP stated that leasehold remains a barrier to a fair and efficient property market and confirmed that the UK Government aims to ‘get the job done’ by the end of this Parliament, making commonhold the default tenure for new flats. However, he also stated that reform must be phased to avoid legal, administrative and market disruption — meaning the five million existing leases in England and Wales will not end immediately.

Findings from the Housing, Communities and Local Government Committee inquiry into the affordability of home ownership have revealed that the home-buying and selling process is a painful experience that reduces motivation to move and slows down the housing market. These findings closely reflect our evidence and support our consistent calls for improvements for consumers and agents.

Propertymark has highlighted the challenges property agents face when identifying the hidden influence of Designated Persons in transactions. The Office for Financial Sanctions Implementation (OFSI) is examining how the rules are applied in practice, and we’ve been clear that whilst agents are committed to preventing financial crime, the current expectations are often difficult to meet.

With the Senedd election approaching on 7 May 2026, housing remains a critical issue across Wales. All major parties recognise the need to increase supply and improve affordability, but their approaches differ significantly. The next Welsh Government will need to strike a careful balance between raising standards and maintaining investment, particularly in the private rented sector (PRS).

With the Scottish Parliament election approaching on 7 May 2026, all major political parties have set out their housing priorities. The next Scottish Government will need to strike a careful balance between improving standards and maintaining supply. Policies that focus too heavily on regulation risk reducing investment, while those that prioritise supply must still ensure quality and consumer protection.

Transactions are taking longer than at any point in recent years, creating uncertainty for consumers and placing additional pressure on property agents working to keep chains together. Although market activity is showing some resilience, movers are facing waits of up to 17 weeks to exchange, exposing ongoing inefficiencies in the system.

The UK Government has published draft regulations introducing a new disclosure regime for land agreements that give control over development without transferring ownership. The rules, which will apply in England and Wales, stem from the Levelling-up and Regeneration Act 2023 and are expected to come into force on 6 April 2027.

The housing market shows steady activity, ongoing challenges with sales agreed rising slightly and stock levels stable, while affordability pressures and longer transaction times continue to strain buyers and sellers. Demand is strong in the rental sector, with significant competition among tenants despite only a modest increase in available properties. Rents have remained relatively stable month to month.

Our response to the Sentencing Council’s consultation on proposed new guidelines was informed by survey responses from members, supporting a more structured, practical and consistent framework for enforcement across the private rented sector, with enough flexibility built in to address different levels of offending.