Cost of running a home reaches highest level in four years

The annual cost of owning and running a home is now nearly £10,000 – its highest level in four years, a new survey has revealed.

According to the survey by Halifax, a rise in gas and electricity bills in the past year was the main reason for the hike in costs, followed by the rising price of home and garden tools.

Mortgages remain the largest single component of housing expenses at 37% of the total, with the second highest being fuel bills at 18% and the third being council tax payments at 15%.



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