PHOTO: Units in inner-city Barangaroo had the best weekly savings for buyers versus renters. Photo: Wolter Peeters

First-home buyers hoping to say goodbye to the rental market are in for some good news,  with property market conditions over the September quarter increasing the number of suburbs where it’s now cheaper to pay off a mortgage than pay the weekly rent.

Compared to June there are now 175 additional suburbs across the country where it is now cheaper to buy versus rent, new Domain data shows. Figures in June revealed 150 suburbs nationwide. In September, the number of suburbs increased to 325, with Brisbane home to 123 of them.

Domain research analyst Eliza Owen says this uplift is reflective of overall changes in the property and rental markets over the past quarter.

Number of suburbs where a mortgage repayment on median house or unit property prices is lower than the median asking rent

 SEPTEMBER 2019JUNE 2019
HOUSESUNITSHOUSESUNITS
Sydney1701
Melbourne019111
Brisbane69542422
Adelaide5510304
Perth5314206
Hobart9080
Canberra518018
Darwin6532
Australia1981278664
Source: Domain

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