Aussie suburbs where buying a home is cheaper than renting

Renting a home is no longer cheaper than buying one across a range of different city suburbs following the RBA decision to slash rates again.

Renting is no longer cheaper than buying a home in many areas. Picture: David Swift.

Purchasing a home has become cheaper than renting one in many areas after the Reserve Bank’s landmark decision to cut interest rates for the second time in four months.

Finder.com.au analysis has revealed where repayments on homes priced at the current median are cheaper than median rent, revealing it’s possible to save over $50 a week by buying in some areas.

The study of PropTrack figures assumed buyers paid a 20 per cent deposit and got an average loan rate on a 30-year mortgage.

You can see the results of the exclusive study below by browsing the interactive or type in your suburb in the search pane to see how typical rents and repayments compare.

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Originally published as Aussie suburbs where buying a home is cheaper than renting