Homeowners paid higher monthly costs for their home than renters across nine of the 12 regions in the UK in 2023. Although London had the highest monthly costs for both buying and renting first time property, it also saw some monthly savings resulting from purchase over rental decisions, amounting to 12 British pounds. In comparison, the national average was 27 British pounds.
Average monthly savings resulting from buying over renting in the United Kingdom (UK) from 2020 to 2023, by region
(in GBP)
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Lloyds Banking Group. (March 26, 2024). Average monthly savings resulting from buying over renting in the United Kingdom (UK) from 2020 to 2023, by region (in GBP) [Graph]. In Statista. Retrieved August 24, 2024, from https://www.statista.com/statistics/809007/average-monthly-savings-for-first-time-buyers-buying-over-renting-uk/
Lloyds Banking Group. "Average monthly savings resulting from buying over renting in the United Kingdom (UK) from 2020 to 2023, by region (in GBP)." Chart. March 26, 2024. Statista. Accessed August 24, 2024. https://www.statista.com/statistics/809007/average-monthly-savings-for-first-time-buyers-buying-over-renting-uk/
Lloyds Banking Group. (2024). Average monthly savings resulting from buying over renting in the United Kingdom (UK) from 2020 to 2023, by region (in GBP). Statista. Statista Inc.. Accessed: August 24, 2024. https://www.statista.com/statistics/809007/average-monthly-savings-for-first-time-buyers-buying-over-renting-uk/
Lloyds Banking Group. "Average Monthly Savings Resulting from Buying over Renting in The United Kingdom (Uk) from 2020 to 2023, by Region (in Gbp)." Statista, Statista Inc., 26 Mar 2024, https://www.statista.com/statistics/809007/average-monthly-savings-for-first-time-buyers-buying-over-renting-uk/
Lloyds Banking Group, Average monthly savings resulting from buying over renting in the United Kingdom (UK) from 2020 to 2023, by region (in GBP) Statista, https://www.statista.com/statistics/809007/average-monthly-savings-for-first-time-buyers-buying-over-renting-uk/ (last visited August 24, 2024)
Average monthly savings resulting from buying over renting in the United Kingdom (UK) from 2020 to 2023, by region (in GBP) [Graph], Lloyds Banking Group, March 26, 2024. [Online]. Available: https://www.statista.com/statistics/809007/average-monthly-savings-for-first-time-buyers-buying-over-renting-uk/