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)
QLD (16 suburbs)
Victoria (6 suburbs)
ACT (4 suburbs)
NT (3 suburbs)
SA (6 suburbs)
Port Pirie West
WA (10 suburbs)
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