With interest rates still elevated and rental prices surging across the country, many Australians are re-evaluating whether they’re better off buying rather than renting. Surprisingly, new data suggests that in over 50 suburbs nationwide, the cost of servicing a mortgage is now cheaper than paying rent.
According to recent analysis highlighted by News.com.au and based on PropTrack data, in 7.7% of properties nationwide estimated monthly mortgage repayments are lower than estimated rents.
🔍 The Top Suburbs Where Buying Beats Renting
Among the suburbs where it’s cheaper to buy include:
In many of these areas, regional and mining town influences drive unique housing dynamics that make ownership more affordable than leasing.
“In general, rents have increased by more than mortgage repayments, particularly for people who own their home outright or bought when prices were lower,” said Eleanor Creagh, senior economist at PropTrack.
Additionally, mortgage repayments are within $100 per week of the median rent in 1 in 5 Australian suburbs.
💡 What This Means for Buyers
This data reinforces that buying doesn’t have to be out of reach — especially if you’re open to expanding your search to regional areas or alternative suburbs. With rental costs outpacing mortgage repayments in some markets, homeownership can be the smarter long-term financial decision.
At Shore Financial, we help clients evaluate their buying power, assess whether it’s time to transition from renting to owning, and explore options across both metro and regional areas.
Thinking about buying?
Let’s run the numbers for your situation — contact us for a free borrowing assessment or a personalised rent vs. buy comparison.
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