The cost of owning and running a home has reached its highest level since 2008, a new study has found.
The typical yearly cost of holding and maintaining a property in Britain was at £9,393 in January 2012, which is the highest amount since January 2008, when the sum stood at £9,406, according to research from Halifax.
Martin Ellis, housing economist at Halifax, said: "The typical costs of owning and running a home has increased over the past year, returning the overall level to that of four years ago. This has happened despite the substantial fall in mortgage payments over recent years."
Mr Ellis remarked that the prospect of falling consumer price inflation in 2012 may help to ease the expenses of running a home.
A study by the Bank of Scotland recently found that the cost of owning and running a property in Scotland has also increased.
The average amount of money spent on a house was at £8,523 in January 2012, representing a 50 per cent rise since 2002.