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The suburbs in Australia where it’s cheaper to buy than rent

Closer to capital cities than you may think. - by Laura Barry
  • 13 Nov 2019

It’s no secret that buying property in Australia is a tough dream to realise for first home buyers, but it seems like there are still some suburbs in Australia where it is cheaper to buy a property than it is to rent.

WATCH: where to find the most expensive properties in Australia 

 

It may seem hard to believe that there are any suburbs left in Australia where first home buyers don’t feel priced out of the market, but that’s exactly what new research created for the Australian Financial Review suggests – and the locations are that far away from capital cities.

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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Laura Barry
Laura Barry
Laura Barry is a writer, bookworm and interior design enthusiast with a love for reporting on all things homes, travel and lifestyle. When not tapping away at her keyboard, Laura can be found making endless cups of tea or perusing the shelves of Sydney’s many bookstores.

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