House transactions rise in March

Buying a home instead of renting can potentially have huge cost savings in the long run. Analysis by mortgage broker Private Finance compared the average cost of buying and renting a £350,000 property on the same street in Brent Cross. Assuming rent rises of 2.5%, the renter will have paid £911,285 over a 40-year period. By contrast a buyer would have spent £574,300, assuming their mortgage rate stayed the same. However mortgage borrowers are likely to see their costs reduce over time, meaning the true figure would be even lower. Homeowners will also benefit from house price rises; assuming an annual growth rate of 1.7% over the 40 years, the buyer will be over £100,000 in profit.

The Daily Telegraph (19/04/2019)