So I came across this list of suburbs where it’s cheaper to buy a house and units rather then rent and i was shocked to find out that the Commonwealth Bank, found that the number of suburbs in which it has become cheaper to service a monthly mortgage payment than a rental bill had increased from 74 to 94 in the six months to July. Crazy. If you have any more please add to the list.
Daniel Kanoon
The Top 20 suburbs where it’s cheaper to buy a house than rent are:
1. Rosebery (NT Palmerston) to buy is $249,000 but rent is $490 a week, with loan payment of $277.73 a week, saving $212.27.
2. Fern Bay (NSW Newcastle) to buy is $274,000 but rent is $450.00 a week, with loan payment of $305.62 a week, saving $144.38.
3. Cartwright (NSW Sydney South West) to buy is $250,000 but rent is $380 a week, with a loan payment of $278.85 a week, saving $101.15.
4. Farrar (NT Palmerston) to buy is $412,000 but rent is $550 a week, with a loan payment of $459.54 a week, saving $90.46.
5. Macgregor (ACT Belconnen) to buy is $296,500 but rent is $410 a week, with a loan payment of $330.71 a week, saving $79.29.
6. Windale (NSW Newcastle) to buy is $185,000 but rent is $250 a week, with a loan payment of $206.35 a week, saving $43.65.
7. Rosewood (QLD Brisbane West) to buy is $255,000 but rent is $327.50 a week, with a loan payment of $284.42 a week, saving $43.08.
8. Kenmore Hills (QLD Brisbane West) $650,000 but rent is $767.50 a week, with a loan payment of $725 a week, saving $42.50.
9. Berriedale (TAS Glenorchy) to buy is $225,000 but rent is $290 a week, with a loan payment of $250.96 a week, saving $39.04.
10. Larapinta (NT Alice Springs) to buy is $279,000 but rent is $350 a week, with a loan payment of $311.19 a week, saving $38.81.
11. The Gap (NT Alice Springs) to buy is $266,000 but rent is $335 a week, with a loan payment of $296.69 a week, saving $38.31.
12. Melbourne (VIC Inner Urban) to buy is $348,000 but rent is $425 a week, with a loan payment of $388.15 a week, saving $36.85.
13. Gagebrook (TAS Brighton) to buy is $142,250 but rent is $195 a week, with a loan payment of $158.66 a week, saving $36.34.
14. Queenstown (TAS Mersey) to buy is $90,000 but rent is $135 a week, with a loan payment of $100.38 a week, saving $34.62.
15. Coolaroo (VIC North) to buy is $229,250 but rent is $287.50 a week, with a loan payment of $255.70 a week, saving $31.80.
16. Bridgewater (TAS Brighton) to buy is $162,500 but rent is $212.50 a week, with a loan payment of $181.25 a week, saving $31.25.
17. Stuart Park (NT Darwin) to buy is $447,500 but rent is $530 a week, with a loan payment of $499.13 a week, saving $30.87.
18. Holmview (QLD Bayside South) to buy is $297,000 but rent is $360 a week, with a loan payment of $331.27 a week, saving $28.73.
19. Cringila (NSW Wollongong) to buy is $189,500 but rent is $240 a week, with a loan payment of $211.37 a week, saving $28.63.
20. Rocherlea (TAS Northern) to buy is $145,000 but rent is $190 a week, with a loan payment of $161.73 a week, saving $28.27.
The Top 20 Suburbs where it’s cheaper to buy a unit than rent are:
1. Rivervale (WA South East) to buy is $285,000 but rent is $500 a week, with a loan payment of $317.88 a week, saving $182.12.
2. Kingston (QLD Brisbane West) to buy is $120,000 but rent is $250 a week, with a loan payment of $133.85 a week, saving $116.15.
3. Earlville (QLD Cairns) to buy is $202,000 but rent is $310 a week, with a loan payment of $225.31 a week, saving $84.69.
4. South Wentworthville (NSW Sydney West) to buy is $324,500 but rent is $440 a week, with a loan payment of $361.94 a week, saving $78.06.
5. West Perth (WA City) to buy is $350,000 but rent is $460 a week, with a loan payment of $390.38 a week, saving $69.62.
6. Brisbane (QLD Brisbane North) to buy is $435,000 but rent is $550 a week, with a loan payment of $485.19 a week, saving $64.81.
7. West Wollongong (NSW Wollongong) to buy is $151,000 but rent is $232.50 a week, with a loan payment of $168.42 a week, saving $64.08.
8. Carlton (VIC Inner Urban) to buy is $225,000 but rent is $315 a week, with a loan payment of $250.96 a week, saving $64.04.
9. Lakemba (NSW Canterbury Bankstown) to buy is $195,000 but rent is $280 a week, with a loan payment of $217.50 a week, saving $62.50.
10. Newcastle West (NSW Newcastle) to buy is $305,000 but rent is $400 a week, with a loan payment of $340.19 a week, saving $59.81.
11. Perth (WA City) to buy is $397,000 but rent is $500 a week, with a loan payment of $442.81 a week, saving $57.19.
12. Katherine South (NT Katherine) to buy is $130,000 but rent is $200 a week, with a loan payment of $145 a week, saving $55.
13. Bonnyrigg (NSW Sydney South West) to buy is $264,750 but rent is $350 a week, with a loan payment of $295.30 a week, saving $54.70.
14. Bungalow (QLD Cairns) to buy is $175,250 but rent is $245 a week, with a loan payment of $195.47 a week, saving $49.53.
15. Smithfield (QLD Cairns) to buy is $210,000 but rent is $282.50 a week, with a loan payment of $234.23 a week, saving $48.27.
16. Punchbowl (NSW Canterbury Bankstown) to buy is $200,000 but rent is $270 a week, with a loan payment of $223.08 a week, saving $46.92.
17. South Brisbane (QLD Brisbane West) to buy is $380,000 but rent is $470 a week, with a loan payment of $423.85 a week, saving $46.15.
18. Port Douglas (QLD Cairns) to buy is $211,500 but rent is $280 a week, with a loan payment of $235.90 a week, saving $44.10.
19. Reid (ACT Canberra) to buy is $387,000 but rent is $475 a week, with a loan payment of $431.65 a week, saving $43.35.
20. Melbourne (VIC Inner Urban) to buy is $365,000 but rent is $450 a week, with a loan payment of $407.12 a week, saving $42.88.
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