How much does it cost to rent in your area?
How much would it cost you to rent your home and would you be better off if you did that instead of owning it? The difference between the cost of renting and the owning a home has always been a hotly debated topic Most people’s ambition in Britain is to own, but there is also a hardy band who say renting is better. Hardcore renters sing the praises of no maintenance bills, the ability to move easily (no stamp duty is a big selling point) and being able to get a better property for less money. Unfortunately, however, the latter reason is being undermined in some places by rapidly rising rents. Today’s LSL Buy-to-Let index says that average England & Wales rents are back at the highs hit pre-recession, but, as the National Landlords Association points out, its not boom time for landlords everywhere. One place where it is though is London. In my popular but hardly posh pocket of North London, Stroud Green, which sits between Finsbury Park and Crouch End, there is hardly anything to rent at the moment and it is very expensive. For a modest two-bedroom flat with a garden, you are looking at £1,500 a month. That’s a lot of money and serves to highlight to anyone who looks at the table below and thinks that London price looks expensive, that actually £972 will barely get you a one-bedroom flat anywhere within the tube map’s Zone 2.
Rents
Sep 2010 Annual Change London £972 4.70% East of England £738 3.20% South West £615 0.70% Yorkshire and The Humber £526 4.90% North West £553 2.00% Wales £542 -1.60% South East £716 4.50% North East £504 -0.30% West Midlands £523 1.30% East Midlands £530 0.40% England & Wales £689 3.10%
Similar Posts:
- You can rent to move but still banks will hurt you
- 3 Advantages and 2 disadvantages of investing in rental property
- Summer’s Best Giveaway: An iPod touch
- 2.80% APY Best certificate of deposit account with North Country Credit Union
- Metro Bank is something to sing about
