Cheaper to rent than buy prime property

The average cost of renting a prime property in the UK is £1,238, some £369 a month less than the mortgage, research from PrimeLocation reveals.

In London the gap is even more pronounced. The average rent for a prime property in the capital is £3,943 compared to an average mortgage cost of £4,339.

The Prime Rental Index also shows that renting a prime property is likely to get even more affordable in the coming months – following two years of steady growth for the UK prime rental market, asking prices have now fallen to a ten month low, and are £40 a month lower than last September.

Read the full story at Mortgage Strategy

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