Mortgage repayments are now cheaper than rent in some Australian suburbs. Is yours among them?
Key points
- Mortgage repayments are now cheaper than rent in some suburbs, as high rents and falling property prices open a window for tenants. Guardian Australia's analysis of Cotality data found median rents in inner-city Melbourne, suburban Canberra and Darwin nearly match weekly loan repayments.
- In some suburbs, repayments are cheaper than rent for the typical property. Analysts say repayments on new loans rose overall over the past year, as interest rates climbed.
- Cotality's researcher said the price drops in apartment-heavy areas were anomalies, and most houses remain more expensive to buy than rent.
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Disclaimer
This is an AI-generated summary based on reporting by Guardian AU. It may not reflect every detail of the original story exactly. Tap “Continue reading” above for the full, original article.
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