Know What's Happening in Investing

Where It’s Cheaper to Buy a Home than Rent – or Almost the Same Price

Research from Cotality shows that in several Australian metros, especially Melbourne’s city core, buying a unit can be cheaper than renting, with savings of up to $322 per fortnight. In Sydney’s western suburbs, the mortgage premium over rent is as low as $20‑$40 fortnightly, and 20 regions nationwide see mortgage costs within $102 of rent. The trend is driven by a surge in new apartment supply that has pushed unit prices sideways or down, while rents have continued to rise modestly. However, buyers still face upfront costs such as deposits, rates and maintenance.