Halifax: Housing costs down on last year
Halifax has released research suggesting that the cost of owning and running a home has dropped in the last 12 months.
All regions in the UK have apparently experienced a fall in homeowner expenditure, with the reduction in London more severe than the rest of the country.
The cost of running a home in the capital has dropped 21 per cent year-on-year, while the south-east has witnessed a 19 per cent decline in expensiveness.
Elsewhere, 18 per cent less cash is needed to pay for housing bills and mortgage finance in the east of England, and Wales and Northern Ireland have seen costs come down by 13 per cent.
Suren Thiru, economist at Halifax, remarked: "With mortgage interest payments declining by almost half over the past year, the annual cost associated with owning and running a home in the UK has fallen significantly."
The comments come a week after price comparison and advice website uSwitch.com warned that the cost of utilities could increase significantly in the next 11 years.
Mortgages for professionals is a whole-of-market broker providing expert mortgage advice to high earning professionals such as pharmacists, engineers and doctors.
All regions in the UK have apparently experienced a fall in homeowner expenditure, with the reduction in London more severe than the rest of the country.
The cost of running a home in the capital has dropped 21 per cent year-on-year, while the south-east has witnessed a 19 per cent decline in expensiveness.
Elsewhere, 18 per cent less cash is needed to pay for housing bills and mortgage finance in the east of England, and Wales and Northern Ireland have seen costs come down by 13 per cent.
Suren Thiru, economist at Halifax, remarked: "With mortgage interest payments declining by almost half over the past year, the annual cost associated with owning and running a home in the UK has fallen significantly."
The comments come a week after price comparison and advice website uSwitch.com warned that the cost of utilities could increase significantly in the next 11 years.
Mortgages for professionals is a whole-of-market broker providing expert mortgage advice to high earning professionals such as pharmacists, engineers and doctors.
