The problems facing first-time buyers has led to an increase in demand for rental properties and pushed up average rents. It now costs around 14% more per month to rent a home compared to servicing a mortgage on an equivalent property.
The cost of home ownership is cheaper than renting in 42 of 50 towns and cities across Britain, according to new figures from Zoopla.co.uk. This figure is up on 12 months ago when it was cheaper to service a mortgage rather than pay rent in 80% of towns across the country.
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