I assume he now has around $200k deposit from your figures, but wants to upgrade, so say new mortgage $300k
at your lower rental figure (but you say +)
6 months rent = $11,700
at 7% interest = $10,500
about same with rates/ins
but renting means 2x big moves?
Doesn't seem much difference in the cost, except the extra moves.
Also, wonder how the bank will go if he doesn't transfer mortgage to another property, start again?
I guess it comes down to, does he think that the recent median slide continues, or will Perth start coming back with the mining boom, and increased wages.
Also, maybe renting might give him time to assess the market with the benefit of being cashed up
