Homeowners Save 1,098 Per Year

The property website Zoopla.co.uk  have found that on average you could save £1,098 a year by owning a property instead of renting.

It seems that renting isn't always the cheapest option. It has been found that it's only cheaper to rent in six of the fifty largest towns and cities across the country.

They found that Reading is the most cost-effective place to buy a property in the UK. Findings show that home-owners pay an average of 34% less than renters.

On the contrary, renting in London is now better financially than buying, due to increasing house prices. People who rent currently save an average of 9.5% per year more than buyers!

Lawrence Hall, Zoopla.co.uk said: "demand for rental accommodation is still fierce. Thousands of people who want to buy are still being forced into the private rented sector every month, which is pushing rents up."

He continued to explain that, "Provided you can get a mortgage, buying is generally the more cost effective option – particularly in the north, where house prices are lower and rising at slower rate than in the south."

Are you a renter or a homeowner?

If you're renting our team of Smethwick conveyancing solicitors can help you onto the property ladder

Please complete the Enquiry form on the right and we'll call you back.

Ferdinand Kelly LLP
Smethwick & Birmingham Conveyancing Solicitors

Tel: 0845 603 0708