The election has been won.

In its manifesto, Labour promised to "finally bring the leasehold system to an end".  This sounded very definite.  However, the King's Speech in July, little of substance was promised.

We feel that the politicians with their high-principled plans, may have run into the reality of the ECHR.  Yet again, the Article 1 Protocol 1 standards of people being allowed to enjoy their property still apply to freehold owners.  We have seen that if ground rents are abolished, and marriage value ignored, the total loss to investors and owners could be around £50bln.  Our guess is that the new Government will NOT want to be lumbered with a compensation bill.  

It has been reported that the greatest beneficiaries of leasehold abolition would be those leaseholders in Central London, who tend to be wealthy already.  

It's not very Labour is it, steal from investors to give to the rich?  And then face a compensation bill for £50bln? 

Our guess is that the Government will settle for a much more modest approach, streamlining Right To Manage and Lease Enfranchisement, but backing away from a full expropriation.

As ever, watch this space!