Anyone got a graph?

[andrewducker]

Looking for something comparing the cost of renting to buying over the last few years.

Something like this, but for the UK.

Anyone?

Comments

[andrewducker]

Yeah, monthly price for a mortgage on the same property, or something like it, I think.

I'm currently seriously considering selling my flat, putting the cash into hgh-interest savings, and renting until the price of flats comes down.

[channelpenguin.livejournal.com]

I spent 13 years waiting for the prices to come down before concluding that they just weren't. People just don't seem to be put off by big mortgages any more - it's just a fact of life.

Plus savings rates were DIRE for such a long time. They are only barely better than dire now.

Make sure you do ALL the calculations properly.

I consider my flat to be 'a unit of housing' that will be swappable for whatever it is if and when I choose to do so. Prices are still rising so quickly that the cost of the loan for the year or so is much less then the price rise.

But I am planning on bogging off on a boat and renting it out. Only reason I'm buying at all is that I can afford to, I'm planning on a long period of not working, and I don't reckon house prices in 35 years time will be less than now and I need somewhere to live when I am old.

[surliminal.livejournal.com]

She's right. Tempting as it is , prices in Edinburgh simply won't go down - there is too much demand, too much buy to let and too little good property available or buildable. you'll be marooned paying rent, having a landlord and not gaining an asset for the rest of your days - or more accurately, till your parents die:(

[surliminal.livejournal.com]

I know - it's mad. Whereas in Soton/Winchester rents are higher than mortgages as far as I can see because of estate agenst and a lack of suitable letting property - sigh..