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How much affect on the price value will the length of time left on a lease have?

What would be the difference in price for 2 otherwise equal 1 bed flats, one with 99 years left on the lease, the other with 72 years left. thank you

Asked on Feb 17 2010, House Prices in London | Report content

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  • Although this question relates to London the answer will vary by a very large amount depending on the area. In central london, shorter leases are more common and so will not have such a major effect on price. If the property is in the suburbs a 72 year lease will be worth much less than a 99 year lease. Your best bet is to get a good local agent out to give you their opinion, if you let me know where you are I should be able to recommend one.

    Answered on Feb 18 2010, Report content
  • This would be dependent on two factors the flexibility and relationship you have with your freeholder (if he is going to be fair about a lease extension) and secondly the current value of the property. Could I request that I provide you with a valuation and you can see exactley what the price is of your property and the best way to tackle the situation with the lease! Regards Brooke Pursey

    Answered on Apr 29 2010, Report content
  • A 72 year lease will affect marketability and value. Many prospective purchasers will regard even 85 years as short and will want to obtain costings for potential lease extension so that they can reflect this in their bid. If you are considering buying you should obtain specialist valuation advice. Try using a free online lease extension calculator and then get advice from an experienced firm of leasehold extension surveyors. Use a firm who are both Chartered Surveyors and members of ALEP (The Association of Leasehold Enfranchisement Practitioners).

    Web reference:

    Answered on Dec 4 2014, Report content

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