Cost of running house hits peak
THE expense of owning and running a house has risen to its highest level in four years, according to new research by Halifax.
The typical annual cost associated with owning and running a home in the UK stood at £9,393 in January 2012, the highest average annual total since January 2008 (£9,406).
The increase in housing costs over the past year largely reflects rising utility bills.
Unsurprisingly, total annual costs of owning and running a home are highest in London, at £11,843. Northern Ireland (£7,793) has the lowest costs.
Martin Ellis, housing economist at Halifax, says: “This has happened despite the substantial fall in mortgage payments.”