Good post rebel1, this was one of the main reasons for recently selling up my property, it is just not economical to buy when rent is so cheap in comparison.
I rent for $265pw, same property would cost me around $330k. At 100% lend, 6.58% interest (current average from canstar), that's $417 per week in interest alone, not to mention stamp duty, LMI, other borrowing costs, strata fees, council fees, water fees, emergency levies, maintenance costs, why would I buy? I would be at least a couple of hundred dollars worse off each week.
