Where buying beats renting and renting beats buying

Survey reveals the top 10 cities where buying beats renting

Property website Zoopla reveals that 48% of cities it is better to buy than rent.

Lawrence Hall, a spokesman for Zoopla, said: “Once you get past the initial fees that come with a house purchase, such as a deposit and stamp duty, our figures show that it can pay to try and get on the property ladder.”

“On top of the enjoyment that can come with owning your property, buyers may also find themselves with more disposable income at the end of the month than those renting their homes.”

“Particularly if you’re in Scotland, northern England or in the West Midlands, taking the first step on to the ladder and sacrificing the flexibility of renting can be a much cheaper alternative.”

The research assumed that someone buying a home had a 10% deposit and was paying a 25-year repayment mortgage with an interest rate of 4.5%.

Top 10 cities where buying beats renting
1. Glasgow
2. Coventry
3. Birmingham
4. Bradford
5. Newcastle-upon-Tyne
6. Bolton
7. Peterborough
8. Nottingham
9. Barnsley
10. Stoke-on-Trent

Top 10 cities where renting beats buying
1. Cambridge
2. London
3. Brighton
4. Swansea
5. Wigan
6. Aberdeen
7. Reading
8. Bournemouth
9. Rotherham
10. Southampton

Written by: Houseladder