The cost of buying a home in Scotland is now over 7% lower than renting, according to latest research by the Bank of Scotland, ee24.com informs.
The average monthly costs associated with buying a three bedroom house stood at 505 pound sterling in June 2012, some 7,4% or 40 pound sterling lower than the typical monthly rent of 545 pound sterling paid on the same property type.
The figures mean that Scotland is the fifth most affordable area in the UK for buying relative to renting. In June 2012, buying a house was more affordable than renting in all 12 UK regions.