Low interest rates and affordable first home buyer markets make it cheaper to buy than rent in some entry level – and not so entry level – Brissie burbs.
Would you believe you’re better off buying than renting in popular suburbs like Spring Hill, Stafford and Chermside? If you’re a unit lover then you should do your maths, because chances are you’ll save more money paying off your own home loan rather than someone else’s.
As a guide, Domain has crunched the numbers and determined the average weekly rent on a Stafford unit is $370. But the average weekly home loan repayment on a Stafford unit is $294. This means money back in your pocket – or at least more cash to put towards other home ownership costs.
Likewise, a Chermside unit will rent for an average $390 per week, but the loan repayment is just $309.
The rent vs buy data is based on median rent and mortgage costs up to December 2020 and assumes a mortgage rate of 2.48 per cent and a deposit of 20 per cent.
Home ownership costs like council rates and stamp duty are not included in the sums.
While the comparisons may be based on some broad brush averages, it’s a useful guide to prompt further investigation if you are weighing up whether you’re better off renting or buying in your chosen suburb.
Check out the Brissie burbs where it’s cheaper – or comparable – to buy a house than rent:
| Suburb | Weekly repayment | Weekly rent | Difference between buying and renting |
| Woodridge | $165 | $300 | -$135 |
| Logan Reserve | $342 | $400 | -$58 |
| Helensvale | $567 | $623 | -$56 |
| Springfield Lakes | $361 | $410 | -$49 |
| Centenary Heights | $309 | $350 | -$41 |
| Alexandra Hills | $404 | $440 | -$36 |
| Beenleigh | $313 | $348 | -$34 |
| Bracken Ridge | $424 | $450 | -$26 |
| Victoria Point | $448 | $470 | -$22 |
| Mount Cotton | $461 | $470 | -$9 |
| Strathpine | $382 | $380 | $2 |
| Capalaba | $412 | $410 | $2 |
Check out the Brissie burbs where it’s cheaper to buy a unit than rent:
| Suburb | Weekly repayment | Weekly rent | Difference between buying and renting |
| Marsden | $210 | $330 | -$120 |
| Eagleby | $181 | $300 | -$119 |
| Upper Mount Gravatt | $321 | $430 | -$109 |
| Capalaba | $305 | $400 | -$95 |
| Bowen Hills | $326 | $413 | -$87 |
| Chermside | $309 | $390 | -$81 |
| Calamvale | $321 | $400 | -$79 |
| Richlands | $296 | $375 | -$79 |
| Stafford | $294 | $370 | -$76 |
| Spring Hill | $331 | $400 | -$69 |
Thinking of buying? View our current listings for sale
Committed to renting? Check our listings for rent.