Yes - but you have to figure into the calculation how much your property value increases which is the analogue of the interest that your bank pays you. Here in the US property prices have taken a dip overall, but our house value has more than doubled in 10 years which seems like a pretty good investment.
As for the cost of owning - it certainly is more expensive from that point of view. I haven't sat down to calculate how much we have to pay out a month to cover the cost of yard updates, termite control, insect control, basic repairs and appliances, but I don't think it's all that bad. You get whacked every once in awhile with a big bill like needing a new roof, but you only have to do that once every 10-20 years depending on the roof you buy, so averaged out it's not so bad.
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As for the cost of owning - it certainly is more expensive from that point of view. I haven't sat down to calculate how much we have to pay out a month to cover the cost of yard updates, termite control, insect control, basic repairs and appliances, but I don't think it's all that bad. You get whacked every once in awhile with a big bill like needing a new roof, but you only have to do that once every 10-20 years depending on the roof you buy, so averaged out it's not so bad.