latest articles
- Funding scheme 'boosting UK mortgages'
21st November 2012 - Thousands of homes to be built at Earls Court
21st November 2012 - More people fund retirement with homes
20th November 2012 - Spain offers incentive to would-be residents
20th November 2012 - Owning property 'bigger deal' than marriage
19th November 2012 - House sellers drop asking prices
19th November 2012 - Student Property a mainstream global asset class
16th November 2012 - UCAS statistics show a positive trend in applicant figures for 2013/14
16th November 2012 - Serial Entrepreneur Backs Huddersfield University Innovation Centre
16th November 2012 - Buy-to-let rent slowdown 'good for tenants'
16th November 2012
LIST ALL ARTICLES
Assetz® Property News Service
Renting costs far outstrip buying
BACK
PRINT
Renting a home now costs over £130 per month more than the monthly cost of buying, a study has revealed.
Halifax's research showed owning was more affordable than renting in all 12 of the UK regions.
Property buyers pay 18%, or £132, per month less on average than those renting, due to rent payments increasing and property prices and the rates of UK mortgages having fallen.
The average monthly costs for buyers of a typical three-bedroom house, including maintenance and repair as well as the mortgage, was £600 in June compared with £732 in rent payments on the same type of house.
The lender said rent payments rose steadily over the last few years, increasing by 5% in the last year, as buying costs fell by 3%. Four years ago the average cost of buying and owning was 45% - £324 - more than the average monthly rent paid.
However, there has been a 33% drop in new buyers in four years as lenders push for ever higher deposits with £40,526 being the average loan-to-value at roughly a quarter of the property price.
Copyright Press Association 2012
PREVIOUS ARTICLE
Assetz® is a UK and International Property Investment Specialist. Please visit our property sites shown below.
Accessing the news service
You can view all of the Assetz® UK, International and UK Property Investment Articles and News here.
We also provide an 
Feed of
the news service, or you can view all articles. Click
here to view more information on RSS readers and how they make reading online news more convenient.
XML and other types of publication of this article title and the URL of this page are permitted using the RSS feed or other methods.
Article content strictly prohibited from duplication on any other site directly other than first paragraph included in the XML feed.
Copyright © 2001-2013 Assetz® News Limited. All Rights Reserved | Company Information | Assetz®
HomepageAssetz House, Newby Road, Hazel Grove, Stockport, Cheshire, SK7 5DA
TEL (UK): 0161 456 4000 FAX: 0161 482 7588
TEL (International): +44 161 456 4000 FAX: +44 161 482 7588
