A computer-generated image of Skyline Plaza by Berkeley Homes Southern

IT IS cheaper to buy a home in Basingstoke than to rent - and that's official, according to Berkeley Homes.

Figures worked out by the developer of Skyline Plaza, the landmark apartment building soaring up to 19 storeys in the centre of the town, show the average rental in Basingstoke currently stands at £700 a month for a one-bedroomed apartment and £850 for a two-bedroomed unit.

With prices at Skyline Plaza starting at £116,000, a 90 per cent interest-only mortgage at 5.69 per cent would require payments of £640 a month for a one-bedroomed apartment and £768 for two bedrooms.

Kerry Jordan, sales manager of Berkeley Homes Southern, said: "Skyline Plaza offers excellent value and presents an exciting opportunity for young people to get a foot on the property ladder and have the satisfaction of owning their new homes.

"They can start off with a low-cost interest-only mortgage and transfer to a repayment mortgage later, when they are earning more."

In comparison to other large towns in the region, such as Reading, Winchester, Camberley and Farnham, Basingstoke remains more affordable, yet still has excellent shopping and leisure facilities, as well as a fast train service to London and easy access to the motorway network and south coast.

Romans is the selling agent for Skyline Plaza.

11:36am Tuesday 8th April 2008

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