According to the latest figures from the Office for National Statistics (ONS), the number of new homes sold as leaseholds in England and Wales fell from 13.3 per cent during 2017 to 4.2 per cent in 2018.
During 2018, there were 44,928 homes sold as leasehold in England and Wales, with 3,242 of these new homes.
The North West of England saw the largest number of new houses sold as leaseholds with 21.8 per cent during 2018, a figure down more than half from the 58.5 per cent recorded in 2017.
The numbers are expected to continue to fall as a result of the leasehold scandal and recent Government announcement on the future of leaseholds.
During June the Government announced that there will be a ban on the sale of new build houses under a leasehold contract in a bid to crack down on the number of people stuck in unfair deals.
As part of the measures, buyers who were sold a leasehold property incorrectly will be able to acquire their freehold outright and at no extra cost.
Following the announcement, several MPs have called for legislative action to help leaseholders dealing with heavy fees and rents.
Office for National Statistics head Nigel Henretty says: “The percentage of new houses sold as leasehold in England and Wales fell sharply last year.
“The North West of England remained the area where sales of new leasehold houses were most common, despite also having had a large reduction last year.
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