Manchester renters better off, figures show |
19 2007 |
| Those renting property in Manchester and the north-west of England are in a better state financially than those who have bought a property and are paying off a mortgage, new figures have revealed. According to the latest 'Rent versus Buy' index from Abbey, the average saving offered from buying rather than renting a property now stands at just £5,811 over a 25-year period, with this rate having plummeted by more than 75 per cent over recent years. "Tenants are the clear winners in Northern Ireland, Wales and the north-west," the financial advice service fool.co.uk concluded. These latest figures show that "the case for renting is becoming more convincing than ever, particularly for would-be first time buyers who are finding it increasingly difficult to get onto the property ladder", the website added. The publication of the report comes as Manchester's famous Christmas markets opened for the festive period, with Albert Square and Exchange Street hosting traders from across Europe.  |
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