Buying a home in a Leasehold hotspot

Published

When you are looking for a new place to call home, there’s likely to be a range of factors that you’ll be on the look-out for.

Top-rated schools and good transport links might be at the top of your priority list, with nearby convenience stores and leafy parks coming closely behind. One thing you probably won’t have considered is the number of leasehold properties in the area.

That’s not surprising. Unless you’re an estate agent or have been a tenant yourself, it’s something that you are unlikely to think about – so why is it so important now?

The reduced rates of crime is the main factor. Recent research has revealed that in locations where there are high numbers of leasehold transactions, the environment is, on average, ‘safer’. Stereotypically speaking, areas associated with a high tenant turnover are thought to be more prone to anti-social behaviour and burglary, but research results from My Home Move suggests otherwise. Based on data from Land Registry as well as UK crime statistics, the research found that rates of vehicle crimes, anti-social behaviour and burglary were all lower in the areas where leasehold properties are more commonplace.

Whilst living in a freehold hotspot reduced the likelihood of experiencing a robbery, the findings indicated that when it came to the majority of localised crime, leasehold spots were ‘safer’.

CEO of My Home Move, Doug Crawford shared his views on the research:

“High-density housing areas, where properties change hand frequently, have in the past, been associated with the issue of crime and anti-social behaviour. However, our research suggests the opposite.

“We know that in general, leasehold homes are bought and sold more frequently than freehold properties – as their size and design are quickly outgrown. With a change in ownership often comes a renewed sense of pride in the property, as any damages are repaired and locks are changed. And as leasehold homes are usually closer to together, this means people really are able to ‘keep an eye’ on their neighbours’ property.”

Although the findings are a useful thing to consider, they are also another thing to think about when you’re looking for a new home. As it’s likely to be one of the most important changes in your life, it’s important to take your time.

Cook Taylor Woodhouse are experts in the industry and can help guide you through the buying process at your own pace.