Buying a house is cheaper than renting for first-time buyers - Telegraph
New research shows that the average monthly cost associated with buying a two-bedroom flat for a first-time buyer is around £567. This is £110 lower than the typical rent paid on an equivalent property, according to Halifax, which conducted the research.
The cost of getting onto the property ladder has fallen by 40 per cent since 2008 due to low mortgage rates and a depressed housing market. By contrast, the price of renting has fallen by a fraction of that amount and has even started rising again over the last year.
Suren Thiru, housing economist at Halifax, said that the current economic climate is favourable for prospective first-time buyers.
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