Peo­ple who rent pay­ing pre­mium

Yorkshire Post - Property - - PROPERTY -

THE av­er­age renter pays 9.9 per cent more than an owner with a 5 per cent mort­gage, ac­cord­ing to prop­erty web­site Zoopla.

It says rent­ing a home is more ex­pen­sive than buy­ing across 80 per cent of Bri­tain. The re­search com­pares ask­ing prices to av­er­age rents for two-bed­room flats in the 50 largest cities and towns. In York, rents ex­ceed mort­gage pay­ments by 39 per cent, with av­er­age monthly rents at £978.

Ni­cholas Leem­ing, com­mer­cial di­rec­tor of Zoopla.co.uk, says: “Buy­ing has al­ways been some­what cheaper than rent­ing. For those who are able to buy a home, costs are low, but for those who can’t, costs are much higher – and the door­way to en­try into the hous­ing mar­ket is nar­rower than ever.”

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