Home buyers are almost £900 better off a year than those who
rent - but an upturn in house prices means the gap has narrowed in recent
months, a report has found. Research by Halifax, which based its calculations
on its own database as well as official figures, found that people buying a
three-bedroom house face typical costs of £672 a month, which is £73 less than
the average £745 a month cost of renting. Five years ago, renting was
considered much more financially attractive than buying, but home buying costs
have since fallen by more than a third, meaning that buying has become cheaper
than renting. Read more on the Sky News website.
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