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Sunday, March 06, 2011

Renting more expensive

A Zoopla survey reveals that renting is now more expensive than owning in 80% of Britains towns.

Renting is now on average 10.5% more expensive than buying.

The research conducted using the price of 2 bed flats in 50 of the largest towns and cities compared the cost of a mortgage where the owner was paying an implied 5% rate of interest.

The survey noted that the cost differential has been rising steadily since the middle of last year when renting was 8.7% more expensive.

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