31/03/2024
National Smarter To Buy Than Rent Suburbs (Ranked by Top Down Price)
1. Baynton, WA 6714
• National Rank: 9th & 18th
• State Rank: 8th & 13th
• Dwelling Type: House
• Bedrooms: 4 / 3
• Median Price: $710,00 / $492,500
• Median Rent: $1,400 / $900
• Yield: 10.25% / 9.53%
• Saving Rent vs Repayment: 56.46% / 53.02%
2. Pegs Creek, WA 6714
• National Rank: 3rd & 14th
• State Rank: 3rd & 11th
• Dwelling Type: House
• Bedrooms: 4 / 3
• Median Price: $495,000 / $459,000
• Median Rent: $1,100 / $850
• Yield: 11.55% / 9.26%
• Saving Rent vs Repayment: 61.37% / 53.64%
3. South Hedland, WA 6722
• National Rank: 8th & 1st
• State Rank: 7th & 1st
• Dwelling Type: House / Unit
• Bedrooms: 3 / 1
• Median Price: $375,000 / $259,000
• Median Rent: $750 / $600
• Yield: 10.40% / 12.04%
• Saving Rent vs Repayment: 57.08% / 62.94%
4. Collinsville, QLD 4804
• National Rank: 16th & 10th
• State Rank: 3rd & 22nd
• Dwelling Type: House
• Bedrooms: 4 / 3
• Median Price: $189,000 / $180,000
• Median Rent: $350 / $350
• Saving Rent vs Repayment: 53.64% / 55.85%
5. Manunda, QLD 4870
• National Rank: 20th & 4th
• State Rank: 5th & 1st
• Dwelling Type: Unit
• Bedrooms: 2 / 1
• Median Price: $210,000 / $150,000
• Median Rent: $380 / $320
• Saving Rent vs Repayment: 52.56% / 59.76%
Our list focuses on identifying suburbs across Australia where, based on current market data, it is cheaper to buy a property than to rent, considering the costs associated with servicing an 80% median price interest-only loan versus rental expenses (weekly). The analysis is nuanced, taking into account dwelling types and the number of bedrooms to offer targeted insights rather than generalized median yield results. Source: Smart Suburb Group. Location: Baynton, WA.