Buying is £124 a month cheaper than renting - Moneywise MagazineIt is £124 a month cheaper on average to own a typical three-bedroom home in the UK than it is to rent, according to Halifax. The average monthly cost of home ownership was £645 in December 2013 (based on a mortgage of 73% of the average three-bedroom property value) - 16% lower than the typical monthly rent of £769 charged for the same property type.
Halifax said the relationship between the cost of owning and renting is being driven by average monthly rents increasing by over £100 since 2009, while ownership costs have remained almost the same over the period.
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