It's cheaper to buy than rent more than half of Australian properties
As property prices rise across Australia, it's natural to assume it's cheaper to rent than buy. But new data shows it's the reverse for more than half of Aussie homes.
Record low interest rates mean it is cheaper to buy than rent more than half the properties in Australia, new realestate.com.au analysis shows.
The inaugural REA Insights Buy or Rent Report shows conditions are currently very favourable for buyers despite surging property prices. Based on current prices and a 10-year analysis of all the costs associated with buying and renting, the report concludes it is cheaper to buy than rent 56.8% of dwellings in Australia.
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