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27pc boost in suburbs cheaper to buy than rent

By Staff Reporter
30 July 2009 | 1 minute read

For 94 suburbs across Australia it has become cheaper to buy than rent, a report by RP Data has found.

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The report, prepared on behalf of the Commonwealth Bank, said the mortgage-friendly suburbs included Hackett in Canberra, Darlington in Sydney, Beachmere in Brisbane and Carlton in Melbourne.

According to the report, the number of suburbs where it is now cheaper to service a monthly mortgage payment increased from 74 to 94 in the six months to July.

Victoria and Queensland both added 10 extra suburbs to the list compared with six months ago.

27pc boost in suburbs cheaper to buy than rent
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