26 Apr

Property for sale in Yorkshire cheaper than renting?

Property for sale in Yorkshire cheaper than renting?

Tenants living in houses to rent in Yorkshire could find investing in a mortgage to be more cost effective.

In terms of monthly costs, property for sale in Yorkshire and the Humber is cheaper than rental property by four per cent, research by Halifax has revealed.

The bank found that the average monthly costs for those with a mortgage is £456, compared to average rental costs of £475.

In addition, increased confidence in the UK property market could see more residents opting to buy houses for sale in Yorkshire instead of renting.

According to Knight Frank, the market improved in March, with interest rate rises less of a threat to homebuyers.

Liam Bailey, head of residential research at the company, said: "There is the feeling that we might even escape a rate rise this year.

"That could have encouraged some of the people coming into the market in March."

Last month saw a surge of buyer demand, with the number of registered house hunters increasing to 290 per branch, reports the National Association of Estate Agents (NAEA).ADNFCR-1222-ID-800511950-ADNFCR

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