{"id":22312,"date":"2018-12-11T12:08:10","date_gmt":"2018-12-11T12:08:10","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=22312"},"modified":"2018-12-11T12:08:10","modified_gmt":"2018-12-11T12:08:10","slug":"which-are-the-uk-areas-where-its-better-to-buy-than-rent","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-us\/news\/which-are-the-uk-areas-where-its-better-to-buy-than-rent\/","title":{"rendered":"Which are the UK areas where it’s better to buy than rent?"},"content":{"rendered":"

To buy? To rent? Choosing one over the other is a perennial dilemma, but new figures from Zoopla<\/a> are showing areas of the UK where the differences between having a mortgage or going onto a rental agreement are the most marked.<\/strong><\/p>\n

When it comes to renting, the south of England dominates the top 10 of figures for local authorities where it\u2019s more cost-effective than buying. St Albans<\/strong>, just to the north-west of London, leads the way \u2013 median rent there is \u00a31,202 while average monthly mortgage payments are \u00a31,472.<\/p>\n

That\u2019s a difference of 22.6%, some way clear of nearby South Bucks<\/strong> where the differential is 16.4%. Derbyshire<\/strong> is in third place with a figure of 14.9%, with regions in the south-east of England filling the other places in the top 10.<\/p>\n

But if you\u2019re looking for somewhere where it\u2019s better to buy than rent, then Hartlepool<\/strong>, a couple of hundred miles to the north-east is where to cast your eye. You\u2019d need an average of \u00a3236 per month for a mortgage in the coastal town in County Durham, 47.4% less than the median rent figure.<\/p>\n

Bargains north of the border?<\/h4>\n

Scotland<\/strong> takes seven of the top 10 places where buying beats renting, but an outlier in the list is Burnley<\/strong>. In the east Lancashire town, it costs \u00a3231 for a monthly mortgage payment, over 45% less than the cost of renting. The data tallies with recent findings from Compare My Move,<\/a> who found that first-time buyers in Burnley could save for a 5% deposit for a Help To Buy loan in as little as seven months.<\/p>\n

Capital gains?<\/h4>\n

What about in London? Barking & Dagenham<\/a><\/strong> is the borough where buying beats renting, with a difference of 14.7% on a monthly mortgage of \u00a31,062. The area recently led the way in capital price rises in Your Move\u2019s November figures with 0.9%.<\/p>\n

There are no surprises when it comes to where it\u2019s cheaper to rent than buy in London, with Kensington & Chelsea<\/strong> top of the charts with a median monthly rent of \u00a32,878 coming in just under 40% less than a mortgage.<\/p>\n","protected":false},"excerpt":{"rendered":"

To buy? To rent? Choosing one over the other is a perennial dilemma, but new figures from Zoopla are showing areas of the UK where the differences between having a mortgage or going onto a rental agreement are the most marked. When it comes to renting, the south of England dominates the top 10 of… Read more »<\/a><\/p>\n","protected":false},"author":3875,"featured_media":20047,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[2,26,6],"tags":[341],"class_list":["post-22312","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buy-to-let-landlords","category-tax-mortgages-money","category-uk-housing-market","tag-newsletter"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts\/22312","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/users\/3875"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/comments?post=22312"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts\/22312\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/media\/20047"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/media?parent=22312"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/categories?post=22312"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/tags?post=22312"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}