Energy bills soar since 2008, catching up fast with mortgage payments
Average home costs close to £10,000 a year to run
April 5, 2013
Soaring energy bills mean the average household bill is now £1,727 making up 18% of the costs of running a home according to a survey my the Halifax. The total figure includes mortgage costs which have fallen by 21% since 2008 and now account for just £3,571 for a capital repayment mortgage thanks to the rock bottom Bank of England base rate. It is astounding that energy bills are now costing approximately half of what it costs finance a mortgage!
Martin Ellis, housing economist at Halifax, said: ‘The typical costs of owning and running a home have again increased slightly over the past year, although this rise was below the general increase in the cost of living.
‘Overall, the cost of owning a home has increased by two per cent over the past five years, representing a significant decline in real terms. Lower mortgage payments have largely offset increases in other items of housing-related expenditure, such as the substantial rises in electricity and gas bills.’
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