74 suburbs now cheaper to buy than rent Friday, 06 March 2009
The dramatic reduction in interest rates in recent months, moderate property price falls and record rental increases have seen 74 Australian suburbs become cheaper for buying than renting.
Research released by RP Data today revealed that New South Wales has the most cheaper-to-buy-than-rent suburbs available.
The research also showed that there is an almost even split between regional and capital city metro areas in terms of suburbs where it is now cheaper to buy – 54 per cent of locations were regional while 46 per cent were located in metro city areas.
Should interest rates fall another 0.50 per cent, RP Data said this list could double.
Top suburbs where it’s now cheaper to buy than rent
NSW (29 suburbs) Metro Rosehill Regents Park Haymarket Wyong Rushcutters Bay Regional North Dubbo Coomba Park Tolland Metford North Lismore
QLD (16 suburbs) Metro Beachmere Sunnybank Hills Highland Park Pacific Pines Sippy Downs Regional Dysart Moranbah Collinsville Moura Woree
Victoria (6 suburbs) Metro Melton West South Kingsville Regional Yallourn North Murtoa Irymple Dimboola
ACT (4 suburbs) Hackett Curtin Farrer Hughes
NT (3 suburbs) Metro Ludmilla Regional The Gap Gillen
SA (6 suburbs) Metro Gilles Plains Regional Whyalla Playford Whyalla Norrie Port Pirie West Whyalla Solomontown
WA (10 suburbs) Metro East Perth Regional Baynton South Hedland Dampier Kambalda West Rangeway
