Suburbs where paying amortgage is, on
average,more affordable than paying rent
based on principal and interest payments on a
variable mortgage rate loan
DATA FROM RP DATA
Number ofsuburbs cheaperto buy than rent
across Australian regions
Number ofsuburbs where typical mortgage
payments are lessthan $50 extra perweek
compared with renting
Renting versus buying affordability in 2012
1. Servicing a principal and interest loan on a variable mortgage rate: 388 suburbs
2. Servicing an interest only loan on a variable mortgage rate: 1,975 suburbs
3. Servicing a principal and interest loan on a three year fixed mortgage rate: 674 suburbs
4. Servicing an interest only loan on a three year fixed mortgage rate: 2,991 suburbs
You can find the full comparison to buying versus renting in the rp data report over here as well as a useful article over here
