diff --git a/wagtail/wagtailadmin/blocks.py b/wagtail/wagtailadmin/blocks.py
index 97878fddd..c752f1a59 100644
--- a/wagtail/wagtailadmin/blocks.py
+++ b/wagtail/wagtailadmin/blocks.py
@@ -110,12 +110,12 @@ class Block(six.with_metaclass(BaseBlock, object)):
         Block.creation_counter += 1
         self.definition_prefix = 'blockdef-%d' % self.creation_counter
 
+        self.label = self.meta.label or ''
+
     def set_name(self, name):
         self.name = name
-
-    @property
-    def label(self):
-        return self.meta.label or self.name
+        if not self.meta.label:
+            self.label = capfirst(name.replace('_', ' '))
 
     @property
     def media(self):
@@ -301,7 +301,7 @@ class FieldBlock(Block):
         else:
             label_html = ''
 
-        widget_attrs = {'id': prefix, 'placeholder': self.label.title()}
+        widget_attrs = {'id': prefix, 'placeholder': self.label}
 
         if hasattr(widget, 'render_with_errors'):
             widget_html = widget.render_with_errors(prefix, value, attrs=widget_attrs, errors=errors)
diff --git a/wagtail/wagtailadmin/static/wagtailadmin/scss/layouts/page-editor.scss b/wagtail/wagtailadmin/static/wagtailadmin/scss/layouts/page-editor.scss
index bf42743da..62324bcb4 100644
--- a/wagtail/wagtailadmin/static/wagtailadmin/scss/layouts/page-editor.scss
+++ b/wagtail/wagtailadmin/static/wagtailadmin/scss/layouts/page-editor.scss
@@ -182,7 +182,7 @@
         padding:0;
 
         label{
-            text-transform:capitalize;
+            white-space: nowrap;
         }
 
         &.required .field > label:after{
@@ -239,7 +239,6 @@
                     padding:0;
                     color:$color-grey-2;
                     line-height:2.2em;
-                    text-transform:capitalize;
                 }
             }
 
@@ -412,7 +411,7 @@
             outline:$color-teal;
 
             span{
-                text-transform:capitalize;
+                text-transform:none;
                 white-space: pre-wrap;
                 width:100%;
                 display:block;