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If you're in the market for a house, buying is cheaper than renting in 9.1% of suburbs across Australia (see chart). If you'd prefer a unit, buying is cheaper in 16.0% of suburbs.
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That's based on a CoreLogic analysis, conducted in February, of markets throughout the country.
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CoreLogic assumed buyers would be putting down a 10% deposit and taking out a 30-year, principal-and-interest loan at 5.23%, while renters would be paying the median rent.
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Thereโs one thing this fascinating analysis couldnโt look at, which is the intangible benefit of home ownership. Renting can be a great option, but when you own your own home, you have a greater sense of security and the chance to build lifetime memories with your family.
Subiaco finance brokers are here to help
Interest rate rises are here, but you donโt have to fear with the right broker on your side.
The team at Sonam Capital are here to empower you through financial knowledge. Weโll take the time to get to know you and your unique situation and speak in a language you can understand, with strategies you can implement for the best possible outcomes.
Nick, Wayne and Amanda at Sonam Capital are your Subiaco finance specialists.
