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PropTech tool compares cost of 'lifetime renting' with house purchase

A new PropTech tool tells users how much it would cost to rent a house in various areas for a ‘lifetime of renting’ – that is, 50 years. 

It also compares the average cost of buying a property now against the lifetime renting costs.

The tool lets users enter their chosen postcode or city, then calculates how much it would cost to rent a house in that area for a total of 50 years. It also shows the 10 most expensive locations for renting as well as the 10 most affordable.

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The tool, created by furnishing company Thomas Sanderson, gives no details of how it sources the information but does list the five most expensive renting locations as:

    1    Virginia Water, Surrey – £2,426,400 (average cost of renting for 50 years)

    2    Cobham, Surrey – £2,322,000

    3    Esher, Surrey– £2,300,400  

    4    Ascot, Berkshire – £1,993,800

    5    Windlesham, Surrey – £1,938,000

Likewise, the top five most affordable locations were found to be:

    1    Darvel, East Ayrshire – £187,200 (average cost of renting for 50 years)

    2    Langholm, Dumfries and Galloway – £188,400

    3    Stranraer, Dumfries and Galloway – £194,400

    4    Halkirk, Caithness – £198,000

    5    Annan, Dumfries and Galloway – £200,400

You can see the tool here.

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