Editor's note: This brief was summarised by The Property AI Newsroom from a report by PropertyWire. Read the original article for full details.
Leasehold flat values fall 2.27% as freehold houses rise
Leasehold flats have fallen by 2.27% year-on-year to an average value of £216,246, while freehold houses continue to appreciate across all categories, according to research reported by PropertyWire.
The research also indicates that nearly nine in ten leasehold flats remain on the market for more than six months, amid mounting legal and financial pressures.
What this means for agents
For letting agents and inventory clerks, the figures point to a widening value gap between leasehold flats and freehold houses, along with notably slow sales turnover for leasehold stock. Both factors are worth bearing in mind when advising landlords on portfolio strategy and valuations.
Source: PropertyWire