Just came across this article stating that there were many suburbs where it was cheaper to buy than to rent. "In October there were 388 localities and this month there were 494, according to RP Data's latest Buy vs. Rent report."
http://theage.domain.com.au/renting-or-buying-report-points-out-six-of-the-best-20121220-2bpkv.html
These figures include suburbs in the capital cities. The article states that six of the subrubs were in Melbourne and that there are 48 within Sydney.
It lists the 6 suburbs in Melbourne. I think Carlton may be confounded by student accommodation but what about the other's that are listed. Does anyone use this report? Is it reliable?
itsandrew
Go as far as you can see and you will see further.
These type of reports are always coming out.
I can't comment on whether it's reliable or not. I guess you need to suss out whether the average rents are accurate for the listed areas and also look at the basis for how they're calculating the loan repayments.
It wouldn't surprise me if it was cheaper to buy in certain suburbs with high rental yields -especially with todays low rates.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
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