Earlier quoted context omitted.
> I was talking about buying - why throw rent money away. London has some of the lowest rental yields in the UK, especially as you move towards the higher end of the market. Renting is merely "very expensive", compared to buying which is "very, very expensive".
Bad use of money, certainly in the UK mortgages are cheaper per month than renting and that's not counting the value of the asset..
That's definitely the case outside of London where rental yields are higher but London rental yields are averaging 3-4% [1] (lower as you go up the ladder). Mortgage rates are currently a bit cheaper (1.5-3%) but owning a home also incurs additional costs such as stamp duty, repairs and (sometimes) ground-rents.
1. https://www.knightfrank.co.uk/research/uk-residential-invest...