Cheaper to buy than rent our homes, housebuilder claims
Published by Anonymous for 24dash.com in Housing and also in Development
Britain’s biggest housebuilder has claimed it is cheaper to buy a new home at one of its new developments than it is to rent.
Persimmon Homes says house hunters could purchase a three-bed semi-detached house at their Blossom Meadows development in Bradford for a monthly mortgage of just £311 using the government's help to buy scheme – £203 less than it would cost to rent the same home.
Simon Whalley, Persimmon's sales director, said the latest figures showed it could now be over 30% more expensive to rent a home than to buy it.
“With the long-term forecast indicating that rent will continue to go up, there is no better option than to buy right now. At our Blossom Meadows development in Bradford we can help make it easier for prospective purchasers to take that all important step on to the property ladder and start investing in their own futures," Mr Whalley said.