RESIDENTIAL PROPERTY
NEARLY 80% of homes in Western Australia are cheaper to buy than rent, but that figure falls to less than a quarter in NSW and just 16.6% in Victoria, according to new data from PropTrack...
The national figure comes in at more than a third – 36.3% – as the country feels the pinch of the rental crisis. The figure is heavily skewed towards units, with 55% estimated to...
More than half (53%) of all homes are cheaper to buy than rent in Queensland, and 48% in Tasmania, while the number is at 39% in South Australia...
He said buying conditions remain strongest in Queensland, South Australia and Western Australia, which points to continued upward pressure on prices in these regions...
“Looking to 2024, higher interest rates will challenge housing affordability for many. This may slow price growth and rebalance buying conditions across the market,”...
“A record pace of rent growth – with advertised rents up 14.6% over the past year – has offset higher buying costs in many regions.” Rental growth has been fuelled by...
Many of the capital cities where buying conditions are most favourable reflect recent unit development, where prices are low compared with rents following record rent...
A whopping 92.5% of units in Perth are cheaper to buy than rent, followed by Brisbane (77.3%), Hobart (63.7%) and Adelaide (60%). In, Sydney it’s 42.7% and in Melbourne, 38.5%...
Finding a house that is cheaper to buy than rent in the major capitals is close to impossible. Just 1.4% of Sydney stock is cheaper, and in Melbourne it’s just 2.2%...
Nearly three-quarters of houses in Perth are cheaper, making it a major outlier. The next highest proportion is Hobart (35.7%), then Adelaide (30%) and Brisbane (26.4%)...
Perth locations lead the pack
PropTrack analysis of all housing by SA3 region showed Perth’s Kwinana and Goswells have the highest share of homes cheaper to buy than rent, at 95% each...
Melbourne City led Melbourne with 83% before a large drop to second and third (less than half in Stonnington-West and Port Phillip), while Botany (71%) led Sydney...
Adelaide’s Playford recorded a very high 84%, Brisbane was led by Brisbane Inner (80%) and Beenleigh (78%).