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The financial benefit of buying a home rather than renting over a 25-year period has tumbled by 75% over the past year – with tenants better off than owners in half the UK's regions.
The latest annual Rent vs Buy index compiled by High Street bank Abbey shows the 25-year saving from buying rather than renting has fallen from £24,000 last year to just £5,811 today.
Rising house prices and higher interest rates have left Abbey's theoretical homebuyer worse off in six of the 12 British regions surveyed.
Not a lot of people know that.
The financial benefit of buying a home rather than renting over a 25-year period has tumbled by 75% over the past year – with tenants better off than owners in half the UK's regions.
The latest annual Rent vs Buy index compiled by High Street bank Abbey shows the 25-year saving from buying rather than renting has fallen from £24,000 last year to just £5,811 today.
Rising house prices and higher interest rates have left Abbey's theoretical homebuyer worse off in six of the 12 British regions surveyed.
Not a lot of people know that.
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