{"id":30858,"date":"2021-02-19T09:11:04","date_gmt":"2021-02-18T20:11:04","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=30858"},"modified":"2021-02-19T09:11:04","modified_gmt":"2021-02-18T20:11:04","slug":"where-its-cheaper-to-buy-a-property-than-rent-in-brisbane","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/where-its-cheaper-to-buy-a-property-than-rent-in-brisbane\/","title":{"rendered":"Where it\u2019s cheaper to buy a property than rent in Brisbane"},"content":{"rendered":"

PHOTO: Selene Bruynzeels is paying just $237 a week for her home loan, less than what it would cost her to rent a property in that suburb. Photo: Supplied<\/strong><\/p>\n

Property prices in Brisbane\u2019s red-hot market might be soaring but it\u2019s still cheaper to buy than rent in dozens of budget hotspots, with a new Domain report not only revealing where bargain hunters can nab a cheap home, but where a mortgage will set you back far less than a lease.<\/p>\n

The rent vs buy data \u2013 which crunched the numbers on median rent and mortgage costs up to December last year \u2013 further revealed the city boasts far more feasible suburbs than its major southern counterparts, with buyers able to save up to $135 a week in some Brisbane fringe suburbs.<\/p>\n

Using weekly mortgage repayments based on the median house or unit price for the suburb, the data is based on an assumed mortgage rate of 2.48 per cent and a deposit of 20 per cent, while excluding extra costs such as council rates and transfer duties.<\/p>\n

Based on those calculations, suburbs in and around Logan came up trumps, with houses in Woodridge offering the widest gap between mortgage repayments and rent. In that patch, the average homeowner forks out a mere $165 per week in home loan repayments, compared to $300 for the average renter.<\/p>\n

Next on the list was Waterford, where the weekly mortgage repayment for houses is $344, compared to a weekly rent of $410. Logan Reserve ranked third with house repayments averaging $342, compared to $400 for rent.<\/p>\n

Domain senior research analyst Dr Nicola Powell said the data set revealed just how many suburbs within Greater Brisbane\u00a0were cheaper to purchase in than rent, a fact she said was further fuelled by the historic low interest rates.<\/h5>\n
HOUSES<\/strong><\/h5>\n
\n\n\n\n\n\n<\/colgroup>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Suburb<\/td>\nweekly repayment<\/td>\nWeekly Rent<\/td>\nDifference between buying and renting<\/td>\n<\/tr>\n
Woodridge<\/td>\n$165<\/td>\n$300<\/td>\n-$135<\/td>\n<\/tr>\n
Logan Reserve<\/td>\n$342<\/td>\n$400<\/td>\n-$58<\/td>\n<\/tr>\n
Helensvale<\/td>\n$567<\/td>\n$623<\/td>\n-$56<\/td>\n<\/tr>\n
Springfield Lakes<\/td>\n$361<\/td>\n$410<\/td>\n-$49<\/td>\n<\/tr>\n
Centenary Heights<\/td>\n$309<\/td>\n$350<\/td>\n-$41<\/td>\n<\/tr>\n
Alexandra Hills<\/td>\n$404<\/td>\n$440<\/td>\n-$36<\/td>\n<\/tr>\n
Beenleigh<\/td>\n$313<\/td>\n$348<\/td>\n-$34<\/td>\n<\/tr>\n
Bracken Ridge<\/td>\n$424<\/td>\n$450<\/td>\n-$26<\/td>\n<\/tr>\n
Victoria Point<\/td>\n$448<\/td>\n$470<\/td>\n-$22<\/td>\n<\/tr>\n
Mount Cotton<\/td>\n$461<\/td>\n$470<\/td>\n-$9<\/td>\n<\/tr>\n
Strathpine<\/td>\n$382<\/td>\n$380<\/td>\n$2<\/td>\n<\/tr>\n
Capalaba<\/td>\n$412<\/td>\n$410<\/td>\n$2<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
<\/div>\n<\/div>\n

READ MORE VIA DOMAIN<\/a><\/p>\n

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