3
Jul
Halifax reveals UK housing costs
Halifax has released new statistics detailing the actual cost of
owning and running a home in the UK.
The figures reveal that as a result of a 47 per cent decline in
mortgage interest payments, housing expenses have fallen.
This means that the costs of owning and running a property in
London – the most expensive area in the UK – fell by 21
per cent. This was the highest decline noted in the country.
In addition, the south-east recorded the second biggest drop, with
a fall of 19 per cent.
Wales and Northern Ireland experienced the smallest declines with
both seeing a 13 per cent drop.
Suren Thiru, an economist at Halifax, said: "Such a sizeable drop
in the costs of running a home will help to ease the pressure on
household disposable income, providing some welcome relief to
homeowners."
Meanwhile, Ducalian has encouraged anyone thinking of getting their
foot on to the property ladder to do their homework and research
prices in the area they are considering.
