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!
Average apartment price: $527,000
Monthly repayments: $1,890
Average monthly rent: $2,214
Average apartment price: $391,500
Monthly repayments: $1,439
Average monthly rent: $1,948
Average apartment price: $360,000
Monthly repayments: $1,323
Average monthly rent: $1,705
Average apartment price: $430,000
Monthly repayments: $1,581
Average monthly rent: $1,815
Average apartment price: $328,500
Monthly repayments: $1,208
Average monthly rent: $1,904
Average apartment price: $450,000
Monthly repayments: $1,654
Average monthly rent: $2,347
Average apartment price: $458,500
Monthly repayments: $1,686
Average monthly rent: $1,939
Average apartment price: $268,500
Monthly repayments: $987
Average monthly rent: $1,461
Average apartment price: $399,000
Monthly repayments: $1,467
Average monthly rent: $1,682
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.
We would love to hear your thoughts on this project.
Have you visited this project recently, or perhaps you live nearby or bought in a neighbouring building? Tell us what you love about this project, or perhaps what you don't.