Leasehold properties, which can take longer to buy and come with additional costs, are alive and well in England and Wales, particularly in London and Manchester, new research shows.

Indeed some 53% of homes in London are leasehold and 46% in Manchester while the overall average for England and Wales is just 15%, according to a report from My Home Move.

It points out that recently developed inner cities have the highest proportion of leasehold properties, making up more than 90% of housing stock in some of these areas. With leasehold properties usually taking longer to purchase and coming with additional legal obligations and costs compared to freeholds, the findings will help home buyers know whether the area they are targeting is a leasehold hotspot.

My Home Move’s analysis of Land Registry’s price paid data, found areas that have experienced extensive redevelopment like London’s N1C postcode and the M15 and M50 postcodes in Manchester top the list of leasehold hotspots and can have a leasehold proportion above 90%.

Overall, the centres of large cities also have a much higher proportion of leaseholds than freeholds. While the top 20 hotspots are dominated by parts of London and Manchester, Liverpool, Newcastle and Birmingham also have areas that make the list.