Renting is dearer than buying after three years

Mortgage brokers Meilleurtaux.com have calculated it is better to own a property than rent in many towns with ‘payback’ varying from a year in Per­pignan to nine and a half in Bordeaux.

Looking at a 70m2 home in large towns across the country, it set the price, interest, insurance and local taxes against the rent plus interest gained on a 10% deposit and worked out their value over time.

It said buying was cheaper than renting after an average across France of three years – an increase of six months on 2016 but two and a half years less than in 2014.

Maël Bernier, of Meilleurtaux, said low loan rates and local taxes made buying advantageous, especially with poor returns on savings – but added price and rate rises could make some towns less attractive.