10 places your mortgage will be cheaper than your rent

The property market in Australia has, in the past, seemed to always favor renters. If you buy a property you are currently renting it will cost you more each week to pay your mortgage and maintain the property. This is not ideal if you are trying to get into the property market. No one wants to pay more than they have to, even for their dream home. But, the tables may be turning. With low interest rates and a shortage of rental properties in some areas… is it possible that your favourite suburbs may now be cheaper to buy in than rent? Intrigued by the phenomenon, we hunted down ten suburbs where the mortgage on your apartment will be cheaper than your rent… and the results may surprise you!

Brisbane CBD | Brisbane

Average apartment price: $527,000
Monthly repayments: $1,890
Average monthly rent: $2,214

Woolloongabba | Brisbane

Average apartment price: $391,500
Monthly repayments: $1,439
Average monthly rent: $1,948

Labrador | Gold Coast

Average apartment price: $360,000
Monthly repayments: $1,323
Average monthly rent: $1,705

Palm Beach | Gold Coast

Average apartment price: $430,000
Monthly repayments: $1,581
Average monthly rent: $1,815

Helensvale | Gold Coast

Average apartment price: $328,500
Monthly repayments: $1,208
Average monthly rent: $1,904

Robina | Gold Coast

Average apartment price: $450,000
Monthly repayments: $1,654
Average monthly rent: $2,347

Tugan | Gold Coast

Average apartment price: $458,500
Monthly repayments: $1,686
Average monthly rent: $1,939

Sippy Downs | Sunshine Coast

Average apartment price: $268,500
Monthly repayments: $987
Average monthly rent: $1,461

Coolum| Sunshine Coast

Average apartment price: $399,000
Monthly repayments: $1,467
Average monthly rent: $1,682

Currimundi | Sunshine Coast

Average apartment price: $432,500
Monthly repayments: $1,590
Average monthly rent: $1,873

Average rent and property prices from Realestate.com February 2019. Mortgage repayments calculated using the Mortgage Choice Calculator. Based on a 20% deposit, 30 year repayments and interest of 3.69% p.a.

Written: 7 March 2019, Updated: 1 October 2019

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