Rental crisis bites but there are suburbs where it's cheaper to buy than rent
While paying off a mortgage is usually more expensive than renting, that balance is shifting as rents soar and a new report reveals 17 suburbs around Australia where it is now cheaper to buy than rent.
While getting a foot on the property ladder may feel like mission impossible, there are suburbs where it is cheaper to buy than rent. (Image source: Shutterstock.com)
In just three years the rental market has gone from soft to brutal, forcing a third of Australians into financial stress and many others into moving deeper into city outskirts or choosing to stay put in an apartment instead of a house.
Rents have skyrocketed 26 per cent nationally since the start of the pandemic and in many areas that figure is closer to 50 per cent. Vacancy rates sit below 1 per cent in numerous capital cities, with a healthy m…
