Cost of renting close to cost of buying

Abbey’s annual UK Rent Versus Buy Index calculates the cost of buying a home compared with 25 years of renting, has noted that the two are costing an increasingly similar amount. The research surveyed the average cost of buying a home with a mortgage over 25 years and compared it with the average cost of rent over the same period. In total, the average home would cost £437,925 to buy, while the cost of renting an average home is £443,736; a difference of just £5,811, or £232.44 per year. Abbey says the gap between renting and buying costs is shrinking all the time, particularly over t...