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| Annual cost of owning and running a house rises by £179 | Annual cost of owning and running a house rises by £179 |
| (14 days later) | |
| The annual cost of owning and running a house has increased for the third successive year by an average of £179, research shows. The typical cost has risen 1.9% to £9,590, less than the 2.7% increase in consumer prices over the same period, the study by Halifax bank found. | The annual cost of owning and running a house has increased for the third successive year by an average of £179, research shows. The typical cost has risen 1.9% to £9,590, less than the 2.7% increase in consumer prices over the same period, the study by Halifax bank found. |
| It is the third successive annual increase, following declines between 2008 and 2010 driven by cuts in mortgage rates. | It is the third successive annual increase, following declines between 2008 and 2010 driven by cuts in mortgage rates. |
| Overall, the average annual cost of owning and running a home is 2% higher than in 2008, significantly less than the 18% increase in overall consumer prices since then. | Overall, the average annual cost of owning and running a home is 2% higher than in 2008, significantly less than the 18% increase in overall consumer prices since then. |
| Water bills led the increase, rising by an average of 5.6%, or £27, over the past year; followed by electricity and gas bills at 4.2%, or £70. Telephone bills increased by an average of 3.3% on last year. | Water bills led the increase, rising by an average of 5.6%, or £27, over the past year; followed by electricity and gas bills at 4.2%, or £70. Telephone bills increased by an average of 3.3% on last year. |
| The cost of homeowning is highest in London at £12,094, which is higher than the UK average by a quarter and more than 50% higher than in Northern Ireland, which has the lowest cost at £7,970. | The cost of homeowning is highest in London at £12,094, which is higher than the UK average by a quarter and more than 50% higher than in Northern Ireland, which has the lowest cost at £7,970. |
| The average annual mortgage payment has fallen by £950, or 21%, over the past five years to £3,571 in 2013, Halifax said. | The average annual mortgage payment has fallen by £950, or 21%, over the past five years to £3,571 in 2013, Halifax said. |
| Top mortgages | Top mortgages |
| Chelsea Building Society | Chelsea Building Society |
| HSBC | HSBC |
| Nationwide |