Rent or Buy A House?

Interest rates are so low at the moment, and it is enticing many renters to dive in to the property market and purchase homes for the first time.

For some suburbs, it can actually be more affordable to buy a house rather than rent one. and they aren't just obscure suburbs that no one has ever heard of.

Western Sydney suburbs are some of the best examples, places like Oakhurst, Rooty Hill, Plumpton, these suburbs have negligible differences between the weekly payments of renting vs. paying off a mortgage.

Research undertaken by RP Data shows that there are hundreds of places around Australia where it is cheaper to buy than it is to rent (On average).

So where are these places?

Sydney Houses

Silverdale 
Av House Price = $499,088
Av Weekly Rent = $650.08
Av Weekly Repayment = $582.23
$67 Cheaper per week to buy than to rent.

Tregear 
Av House Price = $247,705
Av Weekly Rent = $320.08
Av Weekly Repayment = $288.92
$31 Cheaper per week to buy than to rent.

Emerton 
Av House Price = $266,943
Av Weekly Rent = $335.08
Av Weekly Repayment = $311.31
$23 Cheaper per week to buy than to rent.

Bowen Mountain 
Av House Price = $499,088
Av Weekly Rent = $650.08
Av Weekly Repayment = $582.23
$5 Cheaper per week to buy than to rent.

Eagle Vale 
Av House Price = $325,514
Av Weekly Rent = 384.92
Av Weekly Repayment = 379.62
$5 Cheaper per week to buy than to rent.

Sydney Units

Winston Hills 
Av Unit Price = $195,986
Av Weekly Rent = $450.00
Av Weekly Repayment = $228.46
$221 Cheaper per week to buy than to rent.

Waverley 
Av Unit Price = $473,544
Av Weekly Rent = $630.00
Av Weekly Repayment = $552.46
$77 Cheaper per week to buy than to rent.

Bradbury 
Av Unit Price = $237,531
Av Weekly Rent = $335.08
Av Weekly Repayment = $277.15
$57 Cheaper per week to buy than to rent.

Fairfield 
Av Unit Price = $231,393
Av Weekly Rent = $354.92
Av Weekly Repayment = $310.85
$44 Cheaper per week to buy than to rent.

Ambervale 
Av Unit Price = $499,088
Av Weekly Rent = $312.46
Av Weekly Repayment = $269.77
$42 Cheaper per week to buy than to rent.

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