ADomain data crunch has revealed where in Australia it’s cheaper to buy a property rather than rent and Brisbane has more suburbs to choose from for buyers than the capitals down south.
The data used mortgage repayments based on the median house or unit price for the suburb — assuming an interest rate of 3.5 per cent and a 20 per cent deposit — with costs like council rates and transfer duties excluded.
In Greater Brisbane, the suburbs where it was cheaper to pay for a mortgage than pay rent were generally found outside of the local government area, in Ipswich, Logan and Moreton Bay.
The Logan suburb of Waterford had the biggest gap between buying and renting, with mortgage repayments calculated at $367 a week compared to $400 per week for rent.
It was followed by Bellmere in Moreton Bay North, where paying the mortgage was $31 a week cheaper, and Loganholme and Crestmead, both in Logan, where mortgage repayments were $30 cheaper a week.
Find your professional local real estate agent at ‘LoganMarket.com.au’