PHOTO: TRADE ME You could buy this three-bedroom Pakuranga house for the Auckland median of $850,000.
It is now cheaper to buy your own home than it is to rent, in many parts of the country.
Over recent years, it has often been possible for a household to afford a much nicer rental property than they could service a mortgage for.
But commentators say that has started to change.
Real estate salesperson and data analyst Alistair Helm worked out whether it was cheaper to rent or buy around the country by using the annual rent on a typical, average property and comparing it to the interest cost of a two-year fixed-term mortgage on the area’s median-priced property, assuming the buyer had a 20 per cent deposit.
What he found might surprise some people.
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