Notifications can be managed in browser preferences.Jump to contentIndependentSwipe for next articleIndependent Bulletin homepageDownload our appAllNewsSportCultureLifestyleAnna WiseThursday 30 April 2026 02:26 BSTPrice hikes due to Iran war will be felt for at least eight months after conflict ends, minister warnsRenting a home in Britain has become more affordable than purchasing one for the first time since June last year, according to new data from property portal Rightmove.The average advertised monthly rent across Britain stands at £1,547, which is £123 less than the average new monthly mortgage payment of £1,670.This significant shift is primarily attributed to a sharp rise in borrowing costs since early March, influenced by escalating tensions in the Middle East and increased swap rates.As a result, the average two-year fixed mortgage rate has increased from 4.24 per cent in February to 5.35 per cent in April, leading many lenders to withdraw deals from the market.While renting is cheaper than a mortgage on average across Britain, it remains more affordable to buy in Scotland and the North East, with substantial regional variations in the cost difference.In fullCheaper to rent than buy UK homes after Iran war sparks surge in mortgage ratesThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in