Renting Now Cheaper Than Buying A Home

It is cheaper to rent a property than it is to buy a home for the first time in more than six years, says Hamptons. Research by the estate agency suggests that before the pandemic began in March 2020, people buying with a 10% deposit would have been better off than renters by £102 a month. But last month, it found the average private sector tenant was better off, spending £71 a month less in rent. There are now only four areas in the UK where it is cheaper to buy than rent. Read more on the BBC website.

Renting now cheaper than buying a home, Hamptons says - BBC News 

Renting A Home Is Cheaper Than Buying In 54% Of British Cities

Renting a home is now cheaper than buying one in more than half (54%) of British cities. The average monthly rental payment on a two-bedroom property rings in at £690 across Britain's 50 biggest cities – £47 less each month than those making average mortgage repayments of £737. Research has found that Londoners fare best when it comes to renting, paying 47% less than the average mortgage payment  in the city. The proportion of locations where it is now cheaper to rent a home than buy one has increased by 14% since October 2016, when it was more cost-effective to buy in 60% of British cities. Read more on the Zoopla website.

Renting Costs More Than Buying In Nottingham

If you're thinking about renting in Nottingham anytime soon, you might want to think again. A survey of Britain's 50 biggest cities, comparing the costs of buying and renting, has revealed that in Nottingham, the average monthly mortgage repayment is actually more than £100 CHEAPER than renting. Not only that, but Nottingham ranks fifth in the top ten cities around the nation where you're better off buying. The only cities which were cheaper were Glasgow, Birmingham, Bradford and Coventry. Residents in Nottingham told the Post that many are caught in an "economic trap", with the cost of renting spiralling out of control. Read more on the Nottingham Post website.