September 28, 2011 2 Comments
British property portal Zoopla analysed the asking prices and rent rates for all two-bedroom apartments available on the market and compared the cost of rent and of ownership based on servicing an interest-only mortgage at 5% p.a, reported propertytalklive.co.uk.
On average the difference between renting and buying is 13%. Rising demand for rented properties and decreasing house prices mean that in about 90 % of the country (45 of the 50 largest British towns), it is cheaper to buy a residential property now than it is to rent one. Read more of this post