Rent vs buy calculator · England
Rent vs buy in Lewisham: is it cheaper to rent or buy?
Renting leaves you £83,041 better off after 7 years. Owning a 2-bed terraced house costs about £4,170 a month, against £1,955 to rent the same size home.
- After 7 years
- Rent +£83,041
- Difference in net wealth
- Monthly cost to own
- £4,170
- Mortgage £3,429, of which £1,035 is capital
- Monthly cost to rent
- £1,955
- Rent £1,789 plus council tax
- Median price
- £665,000
- terraced house
- Cash needed to buy
- £89,750
- £66,500 deposit + £23,250 SDLT
- Price-to-rent ratio
- 31.0
- Price divided by a year of rent
Renting vs buying in Lewisham by home size
| Bedrooms | Price | Rent / mo | Owning vs renting / mo | After 7 yrs |
|---|---|---|---|---|
| 1 bed | £375,000 | £1,457 | +£810 | Buy £16,017 |
| 2 bed | £665,000 | £1,789 | +£2,215 | Rent £83,041 |
| 3 bed | £785,000 | £2,057 | +£2,666 | Rent £105,104 |
| 4+ bed | £920,000 | £2,714 | +£2,818 | Rent £90,163 |
Average rent and house prices in Lewisham
The ONS average private rent in Lewisham is £1,829 a month (Aug 2026, provisional), up 2.0% on a year earlier. The median price paid is £475,000 (ONS median price paid, year ending Mar 2026).
Default scenario: 2-bed home, 7 years stay, 10% deposit, 4.80% fixed mortgage, monthly difference invested in a S&S ISA at 7.5%. Council tax is £1,989 a year (Band C) and is paid whether you rent or buy, so it does not change the verdict.
Renting or buying in Lewisham: FAQs
Is it cheaper to rent or buy in Lewisham?
For a 2-bed home in Lewisham, owning costs about £4,170 a month and renting about £1,955, both including council tax. Renting leaves you £83,041 better off after 7 years. This assumes a 2-bed home, 7 years stay, 10% deposit, 4.80% fixed mortgage, monthly difference invested in a S&S ISA at 7.5%.
What is the average rent in Lewisham?
The ONS average private rent in Lewisham is £1,829 a month across all home sizes (Aug 2026, provisional), with £1,457 for 1 bed, £1,789 for 2 bed, £2,057 for 3 bed, £2,714 for 4 or more bed. Rents rose 2.0% over the past year.
What is the average house price in Lewisham?
The median price paid in Lewisham is £475,000 (ONS median price paid, year ending Mar 2026). The calculator uses £665,000 for a terraced house, the property type typical for a 2-bed home.
How much is stamp duty on an average home in Lewisham?
A first-time buyer paying £665,000 would pay £23,250 in SDLT. With a 10% deposit of £66,500, the cash needed on day one is about £89,750.
What is the price-to-rent ratio in Lewisham?
About 31.0: the 2-bed price is 31.0 times a year of rent. Higher ratios favour renting; lower ratios favour buying.
Which home size is best value to buy in Lewisham?
On the default assumptions, a 1-bed home gives buying its strongest position: buying ahead by £16,017 after 7 years.
Areas with a similar price-to-rent ratio
Browse every local authority.