Zoopla said London and the South East are the worst affected locations for higher mortgage costs versus rent.
But it is still cheaper to buy in areas like northern England and Scotland.
But it is still cheaper to buy in areas like northern England and Scotland.
Rates for both two- and five-year fixed mortgages were below 3% in early 2021.
Richard Donnell, head of insights at Zoopla, told the BBC that for the last decade it had been “much cheaper to buy than rent” due to “ultra cheap mortgage rates”.
But that trend had been reversed, he said, even though rents have also been rising quickly.
“Around the country the picture varies as in areas with lower house prices buying is still cheaper than renting,” Mr Donnell added. “In southern England where prices are higher, access to home ownership is most out of reach and rents are high as well.”
But it is still cheaper to buy in areas like northern England and Scotland.
Zoopla said London and the South East are the worst affected locations for higher mortgage costs versus rent.
Rates for both two- and five-year fixed mortgages were below 3% in early 2021.
But it is still cheaper to buy in areas like northern England and Scotland.
But it is still cheaper to buy in areas like northern England and Scotland.
Rates for both two- and five-year fixed mortgages were below 3% in early 2021.
Richard Donnell, head of insights at Zoopla, told the BBC that for the last decade it had been “much cheaper to buy than rent” due to “ultra cheap mortgage rates”.
But that trend had been reversed, he said, even though rents have also been rising quickly.
“Around the country the picture varies as in areas with lower house prices buying is still cheaper than renting,” Mr Donnell added. “In southern England where prices are higher, access to home ownership is most out of reach and rents are high as well.”
#Renting #cheaper #firsttime #mortgages #Zoopla
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