[oneeyedpigeon]

A: because renting is so expensive. We have no rent caps in this country, so it's actually cheaper to pay off a mortgage than it is to rent. Plus you actually get to keep that money rather than having it line the pockets of a landlord. Plus house prices are increasing at a much higher rate than inflation. So it's a triple win.

I had to rent for almost 20/years before I could afford the deposit on a house, but I'm glad I finally could because I simply couldn't afford to rent any longer, even though I would've quite liked to.

[hackerboos]

Renting is also extremely unstable in the UK. Most tenancy agreements are 6-12 months and you can be turfed out after the term with no reason whatsoever. Landlords are also allowed to increase rents as much as they like between tenants.

Contrast this with Germany's system - http://www.telegraph.co.uk/expat/expatlife/11417359/Germany-...

Estate agents are also a huge problem. They charge the landlord and the tenant to put an agreement together. Tenants are charged every renewal - sometimes £200 for what is essentially a piece of paper.

[J-dawg]

Although there are plenty of other factors, this is basically the answer. Every time a friend has bought a house (and none of them have done it without being loaned the deposit by their parents), they have reported that the mortgage payments are a few hundred pounds cheaper than the equivalent rent. This will continue to be true as long as interest rates stay near zero.