New statistics have revealed that renting a property is now cheaper than buying one across much of the UK.
But in one popular Greater Manchester area, it still remains the other way around.
According to leading property platform Rightmove, which has analysed the latest price data, the average monthly rent in Great Britain is now lower than a typical new mortgage payment – with the average advertised monthly rent nationwide being £1,547 and a new mortgage on a typical home currently costing around £1,670 a month.
This means that renters, for the first time since June 2025, are coming out £123 a month better off than buyers.
Rightmove says that, to arrive at that figure, it used the current average asking price of £373,971, paired with the average two-year fixed rate of 5.35% recorded so far in April, and with calculations assuming a 20% deposit and a 30-year term.
ADVERTISEMENT
So, what has changed then? Well, the simple answer is that mortgage rates have gone up.
Renting a home is now cheaper than buying one across much of the UK / Credit: Benjamin Elliott (via Unsplash)
The average two-year fixed rate sat at 4.24% in February, but by April, it had climbed to 5.35%, and unfortunately, that increase is enough to push a new buyer’s monthly payment above what many people are currently paying in rent.
ADVERTISEMENT
The national picture does not tell the whole story though, however, as there are real differences from one part of the country to another, largely driven by local property prices.
As mentioned earlier, there is one popular Greater Manchester residential area where buying is still cheaper than renting overall, according to the latest data – and that is Salford.
In Salford, the average asking price of a property is £245,478 with an average monthly mortgage repayment being £1,096, whereas the average monthly rent sits at £1,323, so this means that a +£277 difference.
ADVERTISEMENT
Rightmove property experts say Salford is helped by ‘more affordable’ property prices keeping borrowing costs ‘in check’.
“Mortgage payments have risen quite sharply in a short space of time for new buyers,” commented Rightmove property expert, Colleen Babcock.
“It will be interesting to see whether more would-be buyers turn to renting temporarily while rates remain high, particularly when monthly costs can exceed average rents and the timing of rate cuts is still unclear.”
Featured Image – Shvets Production (via Pexels)
News
Demolition and regeneration plans for former Manchester shopping centre to begin next month
Emily Sergeant
Plans to demolish and regenerate a former shopping centre in a Manchester suburb are set to kick off from next month.
Following planning approval at the end of 2025, major plans to transform the former Chorlton Cross Shopping Centre into a ‘thriving’ new destination to live and shop are set to commence with demolition in the next couple of weeks.
If you’re unfamiliar with the plans for the new Chorlton neighbourhood, they include 262 one, two, and three-bedroom apartments, all with access to outdoor space through balconies and gardens, 53 affordable homes – with 49 of them being available for social rent – and around 3,500 sq metres of public open space with fully walkable routes and outdoor seating areas.
A mix of flexible retail spaces, including a new ‘Makers Yard’ suitable for smaller start-up businesses will also be included, alongside new tree planting.
Phase one of the project will involve the dismantling the former shopping centre and neighbouring Graeme House buildings.
According to developers, the first step will be to close the precinct car park at the end of this month, before new hoardings are installed around the site to close the area off to pedestrians and vehicles for safety reasons.
The demolition work is expected to begin in mid-June, and be completed by August.
Where possible, materials from the existing buildings will be reused during construction of the new neighbourhood in a bid to help reduce the number of vehicles needed to remove materials from the site.
“Demolition marks another major milestone for the project, which will completely transform the former shopping centre,” commented Georgina Lynch, who is the managing director at Manchester-based developers, PJ Livesey.
“Our demolition contractor will carefully manage any issues throughout the work, and we will continue to stay in regular contact with local residents and businesses as the demolition progresses.”
Featured Image – Supplied
News
Full list of road closures announced as IRONMAN 2026 takes over Bolton next weekend
Emily Sergeant
The official route and full list of road closures have been announced, as Bolton prepares to host the IRONMAN next weekend.
Bolton has been the proud home of the UK’s IRONMAN race since 2009, and the world-renowned triathlon is all set to take over the Greater Manchester town once again in a couple of weeks time – with participants and spectators in thousands all preparing to flock to all four corners of the borough to the catch the action.
People of all ages and abilities – even including kids – are training to take part in three different events across the weekend.
And, as is always the case, residents and road users are being urged to plan ahead.
Bolton Council says a series of temporary road closures are needed to ‘ensure the safety’ of competitors and spectators.
⚠️ Road closures alert for IRONMAN 2026.
📆Friday, June 5 to Sunday, June 7.
For the safety of residents, visitors and athletes, roads will be closed at various times, and unfortunately some disruption is unavoidable.
Road closures are set to be the same as last year and will be in place for Night Run Bolton on Friday 5 June and IRONKIDS Bolton on Saturday June 6, before IRONMAN 70.3 then officially arrives on Sunday 7 June, extending from Pennington Flash in Leigh to Bolton, where Chorley New Road and the town centre will be most affected.
The town centre and Middlebrook retail park will be open as normal all weekend, but anyone driving into the town centre is advised to park at one of the car parks – which will be open as normal – rather than elsewhere or in the surrounding areas.
Anyone heading to Middlebrook from Bolton is advised to use Wigan Road (A676 / A58), to Manchester Road / Chorley Road (A6), and then use De Havilland Way (A6027) to reach the retail park.
Full list of road closures for IRONMAN 2026
All weekend:
Le Mans Crescent, Howell Croft North, and Howell Croft South will be closed from 6am on Friday 6 June to 9am on Monday 9 June, due to the course set up and build for the weekend events.
Friday 28 June – Night Run:
Moor Lane, Deansgate, Knowsley Street, Chorley Street, Spa Road (eastbound), St Edmund Street, Helena Road, and Bridge Street will all be closed from 5:30-9pm.
Saturday 29 June – IRONKIDS:
Le Mans Crescent will be closed all day
Deansgate will be closed from 6am-5pm
Sunday 30 June 30 – IRONMAN 70.3:
St Helen’s Road, Sandy Lane, Byrom Lane, Slag Lane, and Lowton Road will be closed from 6-10am
Wigan Road/Warrington Road (A573) will be closed from 6-10am
Bickershaw Lane, a short section of the A578, Nel Pan Lane, and Westleigh Lane will be closed from 6-10:45am
Atherleigh Way (A579) between St Helen’s Road and Kirkhall Lane, will be closed northbound only from 6-9:45am, and between Kirkhall Lane and the Talbot roundabout from 6-10:45am
Gibfield Park Way and Gibfield Park Avenue will be closed from 6-11am
North Road from the junction with Gibfield Park Avenue, Platt Lane and the A58 from Platt Lane to the Chequerbent roundabout will be closed from 6:30-11am
Park Road and Manchester Road (A6) will be closed westbound only from 7-11am
Chew Moor Lane / Tempest Road to Regent Road, and Regent Road to Chorley New Road, will be closed from 7-11:15am
De Havilland Way will be closed northbound from 7am-1pm
Victoria Road (A58) and Old Kiln Lane will be closed from 7am-1pm
Chorley New Road, from Beaumont Road to the Beehive Roundabout, will be closed eastbound from 7am-1pm but there will be access westbound throughout the day.
Chorley New Road, from Beaumont Road to Waterslea Drive, will be closed from 7am-1:30pm
Chorley New Road, from Waterslea Drive to St George’s Road (B6226), will be closed 7am-5:30pm
Chew Moor Lane, St John’s Road, Tempest Road, and Regent Road will be closed from 7-11:15am
Chorley Street, Bark Street, St Helena’s Road, Blackhorse Street, and Queen Street will be closed from 7am-3:30pm
Spa Road will be closed from 6am-6pm
“Facilitating events of this scale is not easy,” a spokesperson for Bolton Council explained ahead of the events arriving next weekend, “and it’s essential we put the health and safety of the participants and spectators as a priority.
“To ensure this requirement is met, temporary road closures will be put in place across the town, so we strongly urge residents and visitors to plan their trips with this in mind.”
Emily Sergeant -
8th May 2026 
