Inside Business

Home owners shelled out almost £1,400 less than renters through 2021 but both face appalling costs

Halifax’s figure is striking but both sectors face the problem of a lack of supply, writes James Moore

Sunday 20 March 2022 21:30
<p>Long term it’s a lot cheaper to buy, but it’s not for everyone </p>

Long term it’s a lot cheaper to buy, but it’s not for everyone

Pity the poor tenants in the rental sector. Poor being the operative word, based on figures from the Halifax.

Housing costs make them a lot worse off than owner-occupiers if they’re in the private rented sector. According to the lender, homeowners’ costs were £1,378 less than those of tenants in 2021 across the UK.

Now, it’s true that Halifax has an interest here. It is owned by Lloyds Banking Group, which is Britain’s biggest lender. Promoting home ownership is in its DNA. A figure like that shows off its benefits to great effect.

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