The 238 towns where it's cheaper to buy

by Caroline Dann29 Aug 2012

RP Data has named 238 towns where it's cheaper to buy, a week before the spring selling season officially begins.

The results are part of its annual 'Buy Versus Rent' report, which showed Queensland has the highest proportion of cheap suburbs.
The calculations were based on a principal and interest loan on a variable mortgage rate.
Queensland has 84 spots; New South Wales 54; Victoria 10; Western Australia 35; South Australia 23;
Tasmania 25; regional Northern Territory 6; and the ACT (in Canberra) just 1.
RP Data’s research director Tim Lawless said difficult market conditions have led to a drop in selling prices coupled with a hike in rents.
 “With lower mortgage rates, tight rental markets resulting in some rental increases and lower home values, many buyers may see now as a good time to either re-enter the market or buy their first home,” he said.
The full list of towns and suburbs is available to download from the website, said Lawless.
“[It’s] a great tool for anyone looking to buy a home to live in or for investors active in the market. It provides an indicative guide of the likely difference between the cost of renting and the cost of repaying a mortgage across all suburbs,” he said.