Home-owning still cheaper than renting but difference reduced

The cost of a mortgage on a first home is typically around £42 per month cheaper than renting, but the difference has reduced and in some parts of the UK renting may be the less expensive option, analysis suggests. First-time buyers could typically pay around £971 per month for a three-bedroom home, while renters would potentially be forking out around £1,013, according to calculations by Halifax. The difference of around £500 per year between buying and renting is down from a peak reached in 2016, when owners were saving £1,567 annually. 

City AM (15/03/2023)   Daily Mail (15/03/2023)   The Daily Telegraph (15/03/2023)   The Guardian (15/03/2023)