Owning as well as running a home costs £6,366 p.a., 7% or £418 more than what it cost in 2005, so recent figures from the Halifax show.
Household costs increased three times quicker than the rate of inflation, the latter being the official measure for how much more expensive goods and services have become.
These increases were driven by huge increases in the cost of utility bills and council tax.
It is the first time utility bills and council tax cost more than mortgage payments, with average electricity, water, gas as well as other fuels costs rising 6% and council tax bills increasing an average 8%.
This is the second year that home owning and running costs have increased faster than inflation and it does not look like these costs are going to decrease.
The cost of mortgages is the biggest single cost at £2,146 in 2004/5, 20% more than in 2003/4.
While mortgage costs have decreased this year, the Halifax forecasts that increasing fuel and tax bills are likely to more than, make up for the decrease.
Not surprisingly, Londoners are the ones who spend the greatest amount on housing, £8,133 a year, some 63% above the cost of owning and running a North Eastern home, the cheapest region at just £4,990.
|
||||||||
|
Buying property
Selling property Estate agent fees Free property guides Conveyancing services Mortgage services See all Property Guides
 My estateagents
|
Cost of Running a Home Fri, 10 Mar 2006
     Recommended linksUk House Building BoomingReview Your Finances as A Major Priority for 2006 Home Utility Bills |
|
||||||
Site Map |
About estateagents.co.uk |
Contact |
Terms & Conditions |
Links |
Press |
Estate Agents Login | 
© 1999-2008 estateagents.co.uk
© 1999-2008 estateagents.co.uk