Buying is cheaper than hiring in England

Living For rent is more expensive than to buy a home in eight of the ten largest cities in the UK. Currently, rents there cost an average 9.9 percent more than the mortgage payments. This is clear from analysis of Zoopla, which compared the prices announced for sale for two-bedroom apartments in the 50 largest cities in the UK. Mortgage payments are calculated at the rate of 5% per year. In some places, the price difference between rents and mortgages is very high. In York, for example, rents are 39% higher than mortgage payments. Average rents for two-bedroom apartments in the city are at the level of 978 pounds. In another 13 of the 50 city rents are more expensive than mortgages over 20%.

Even in London, where properties are most expensive, remains cheaper to buy than to live rent.

The post Buying is cheaper than hiring in England appeared first on Travel and Living Tips.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s