The Government has taken a significant step towards abolishing leasehold properties in England and Wales, introducing a white paper that proposes making commonhold the default tenure for flats and apartments. The reforms, which aim to phase out leasehold for the 4,006,038 English & Welsh leasehold homes, have been described as the “beginning of the end” for a system often criticised as outdated and unfair. But what does this mean for Hounslow homeowners and buy-to-let landlords, particularly those looking to sell in the coming years?

Future legislation and the recent Budget have stirred considerable anxiety among landlords. The Chancellor’s decision to increase the additional Stamp Duty Land Tax (SDLT) from 3% to 5% for landlords purchasing additional properties initially suggested a grim outlook for the buy-to-let sector. This move, coupled with the introduction of the Renters’ Rights Act, which proposes to abolish Section 21 and effect a landlord database, poses new challenges for Hounslow landlords but also opens doors to new opportunities. Despite these hurdles, deeper market insights reveal reasons for optimism among property investors.