Nearly half of all homeowners in England have seen their property prices rising more than what it costs them to maintain it over the last year, according to a study by estate agent comparison site, GetAgent.co.uk.
Home sellers in 43% of areas in England have seen the average property in their region increase in price at a greater rate than the annual cost of property upkeep in that area.
Across England as a whole, the average annual cost of upkeep of a property comes to about £6,046 ($7,938). This includes £1,818 in council tax, £1,139 in energy costs, £397 on water, £146 in insurance and £2,547 in maintenance.
The average house price in England has gone up by £6,220 to £254,688 in the last year. The rise in price take away the cost of upkeep, which hypothetically leaves the homeowners with £174, according to the study.
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