|
 A leading money website has today (June 27th) suggested that homeowners are facing far higher living costs than those who rent.
New research from MoneyExpert.com has revealed that the average homeowner spends £216.60 per week on unavoidable commodities such as food, clothing, transport, phone and energy bills.
This figure is 62 per cent higher than the weekly outgoings of the average tenant, which stand at £133.90.
Sean Gardner, director of mortgages for the website, explained that the results appear to represent a major reason why the housing market is suffering from its current crisis.
He said: "Much has been made of the dilapidated mortgage market and the effects of inflation, and it is true that homeowners are likely to suffer a real change in their standard of living as costs rise.
"This may explain why the housing market is struggling to recover - people realise that renting is cheaper now and aren't prepared to run the risk of being on the property ladder."
Mr Gardner added that tenants do not have to remortgage or suffer the effects of equity losses in their properties.
What are Social Bookmarks?
 Email this to a friend
 Printable Version
<< Homebuyer News Archive
|
