this post was submitted on 17 Oct 2026
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Mortgage repayments are now cheaper than rent in some Australian suburbs. Is yours among them? (www.theguardian.com)
submitted 4 days ago* (last edited 4 days ago) by arbilp3@aussie.zone to c/australia@aussie.zone
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In one in 10 suburbs and towns across the country, repayments are less than $200 a week higher than rent, for the typical property. In some suburbs, they are actually cheaper.

I hope someone here who is renting can find a place of their own.

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[โ€“] rcbrk@lemmy.ml 6 points 3 days ago* (last edited 3 days ago) (1 children)

You can't directly compare renting and mortgaging. A few differences:

What you have after (nominally) 30 years:

  • Renting: nothing.
  • Owning: secure rent-free accomodation. Can work less and do more of what you enjoy.

Other ongoing costs:

  • Renting: moving house every ~1-5 years.
  • Owning: building insurance, council rates, water supply, (sometimes body corp fees); (total ~$50-$200/week depending on bushfire/flood risk).

If you're a keen gardener:

  • Renting: time and costs to rebuild then restore to original every time you're evicted. Uncertain planning timeframes.
  • Owning: Go ahead and plant that orchard and have excellent fruit and nuts for the next 30-60 years.
[โ€“] arbilp3@aussie.zone 1 points 2 days ago

And that's why people prefer to have their own home, even if it's an apartment where they can't plant an orchard.