22 February 2016

Rent payments have now overtaken mortgage payments

Savills have recently reported that in the last year they estimate rental payments have totalled approximately £74.8bn while mortgage payments were estimated at £73.2bn.

They also report that private Landlords own more housing equity than owner occupiers with the figures being £1,077bn against £!,067bn.  However, the amount of property owned outright stands at an estimated £2,097bn.

In a separate report Savills state that a house worth £66,110 in 1995 is today worth an estimated £262,847.  

Currently less than 6% of local government wards have average house prices of under £100,000 compared with 88% in 1995.

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