The research was conducted by CoreLogic and it identified a number of Australian suburbs where it is cheaper to buy property than rent, based on a 20% deposit for a 30-year loan at a 4.25% variable rate.
Suburbs where buying is cheaper than renting
Carlton, Victoria
An average monthly mortgage repayment of $1439, versus monthly rental cost of $2122
Ropes Crossing, NSW
An average monthly mortgage repayment of $1919 versus a monthly rental cost of $2083
Adelaide, SA
An average monthly mortgage repayment of $1502 versus a monthly rental cost of $1912
Logan Central, QLD
An average monthly mortgage repayment of $1014 versus a monthly rental cost of $1495
Gagebrook, Tasmania
An average monthly mortgage repayment of $951 versus a monthly rental cost of $1683
Wyoming, NSW
An average monthly mortgage repayment of $1973 versus a monthly rental cost of $2124
Cooloongup, WA
An average monthly mortgage repayment of $999 versus a monthly rental cost of $1396
Charnwood, ACT
An average monthly mortgage repayment of $1792 versus a monthly rental cost of $2118
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