autumn 2011 newsletter
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Transcript of autumn 2011 newsletter
THE NEWSLETTER
We’re on the Web!
See us at: Web site address
OUR FAMILY NEWSLETTER PAGE 2
AUTUMN 2011 Buying now cheaper than renting
across 90% of Britain
Source: http://www.zoopla.co.uk
Falling house prices and increasing rental demand has made it cheaper to buy
a property than to rent one in 45 of the 50 largest towns across Britain. The
cost of renting is now 13% higher on average than the cost of owning,
according to the latest research from property website Zoopla.co.uk, which
lists over half a million properties for sale or to rent in Britain, analysed the
asking prices and rents for all two-bedroom flats currently on the market,
comparing the rental cost to the cost of ownership based on servicing an
interest-only mortgage at 5% p.a. Milton Keynes topped the list of locations
where buying beats renting with current rents more than 39% higher than the
cost of owning, leaving renters on average £2,544 per year worse off. At the
other end of the scale, renting remains more cost-effective in Aberdeen,
where it costs 9% more to own compared to rent, leaving owners on average
£936 worse off. In London, where the average asking price for 2-bedroom flats
currently stands at £430,608, buying still beats renting by a significant margin.
The average monthly rent in the capital today is 28% higher than the cost of
ownership, leaving renters paying an extra £5,964 annually compared to
owners. Nicholas Leeming, of Zoopla.co.uk, commented: "With house prices
down, low interest rates and sky high demand in the private rental sector,
buying has never been a better option for those able to secure a mortgage.
And with owners reducing prices further in order to achieve a sale before
Christmas, there may well not have been a better time to buy in recent times."
UK Property News http://www.ukpropertyshop.co.uk/news/1357.shtml
10 Winckley Street, Preston PR1 2AA [email protected]
Your home may be repossessed if you do not keep up repayments
on a mortgage or other debt secured against it.
OBLIGO LTD. IS AUTHORISED AND REGULATED BY THE
FINANCIAL SERVICES AUTHORITY. FIRM REF 515132.
FINANCE HOUSE 20-21 AVIATION WAY
SOUTHEND-ON-SEA SS2 6UN
Even if you already have a mortgage lined up, use our mortgage experts
to check the whole market for you and make sure your deal is the best!
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTAGE OR OTHER DEBT SECURED ON IT.
Call 01772 823050 & check your mortgage
FREE RENTAL PROTECTION INSURANCEfor the first six month assured shorthold tenancy agreement
With full tenant profiling and data referencing we’re so confident in the
quality of our tenants we now offer free rental protection insurance –
we won’t put just anyone in your property.
With many years’ experience in the property business we know you need a letting agent
who understands your needs and can offer you a flexible service from let only or rent
collection to full management solutions.