The property website analysed the cost of renting a two-bedroom home compared to servicing a mortgage in Britain's 50 biggest cities. The proportion of cities offering better value for money for homeowners has seen a 25 per cent increase since April (when the data was last analysed).
For the capital though, it's not the case. The median monthly rent was £2,009 and median asking price £625,000. Zoopla said that made the average monthly mortgage repayment £3,127. So rental payments are 44 per cent cheaper than mortgage repayments.
In Glasgow, the best city for buying, the median monthly rent was £596 with a median asking price of £89,995 and an average monthly mortgage repayment of £450. Mortgage repayments there are 28 per cent cheaper than rental ones.
Overall, the south of Britain tends to offer much better value for renters.
Top 10 locations where buying beats renting
Top 10 locations where renting beats buying
Lawrence Hill, spokesman for Zoopla, said:
Buying a property is a costly process, but once you get past the initial fees, it can – as our data shows – prove a more economical option on a monthly basis.
Although large parts of Britain remain unaffordable for those looking to take their first steps onto or another step up the property ladder, these latest figures tell an encouraging story.
Whereas back in April it was cheaper to service a monthly mortgage than pay a rental fee in just under half of Britain’s biggest cities, buyers are now offered better value in nearly two thirds of these locations.