At the Labour party conference, Andy Burnham assured leaseholders that the government would end the financial burdens they face. Housing Secretary Angela Rayner announced plans for an independent regulator and a consultation to cap excessive fees, although these measures fall short of Labour's promise to abolish the leasehold system entirely. The average service charge for flats has risen significantly, impacting the housing market and deterring potential buyers.
The current leasehold system, which often leads to high costs for homeowners, has become a contentious issue in the Holborn and St Pancras byelection. With six out of seven homes sold as leasehold in the area last year, the Greens are challenging Labour's credibility on housing issues. The government is expected to introduce legislation against new leasehold properties, but existing leaseholders are still awaiting substantial reforms to gain control over their homes.