Market Overview, Statistics & Market Survey Data
Uniquely, the Ringley Group has pioneered bringing legislative change to leaseholders in a blear, concise, understandable way. Our highly acclaimed LeaseholdGuidance.com is one example where we combine legal and valuation work to deliver extended leases and more.
The Ringley Group, which incorporates Ringley Chartered Surveyors, Ringley Legal Services, Ringley Company Secretary, MBM Ringley, the Leaseholder Support.co.uk and the Leasehold Guidance Service, is a privately owned company, whose operations include all aspects of professional advice to serve the residential and commersial property sections.
Ringley's Estates Division manages a service charge roll of over £20m on behaf of clients, landlords, freeholder and resident management companies.
To date, the Ringley Group:
- has recurring contract income which provides 60% of turnover
- delivers secured lending advice to 10 top financial institutions
- has achived record year-on-year growth whilist establishing its 3 divisions: Professional Service, Estate and Agency
- has a solid asset base, investment income & administers its own Pension Fund
Understanding the Leaseholder Market
According to the National Statistics office there are:
- 22.5M households in England & Wales and approximately
- and approximately 160,000 new homes are being built each year (50% are estimated to be flats)
- 4.5M are flats/maisonettes
- 0.85M (19% owned by social landlords)
- 3.65M (81% privately owned). ARMA suggests this 3.65M breaks down as follows:
- 1,500,000 flats long leasehold
- 750,000 leasehold houses
- 300,000 retirement flats
- balance 1M not sold on leases?
Consumer Surveys
Residents Insurance Services
- 41% of leaseholder can't name a single other agent
- 33% of leaseholder can only name one other agent
- 56% of leaseholders described having vague or very little understanding of the managing agents role
National Statistics
- 2/5th self-managed all blocked flats
- 63% of leaseholders asked said they had no idea how to change their agents
ARMA
- ARMA members manage approximately 600,000 units
JICS Marketing Consultancy
The JICS Marketing Consultancy revealed the 4 problems feared by lessee to be:
- suspicion of illegal alterations by neighbours
- big bills around the corner, works overdue and no reserve fund
- neighbours not paying
- paperwork - Companies House, Tax Office, shares, the company secretarial role, sending out demands