Real estate in Rockhampton has recorded five suburbs where it is cheaper to buy than rent, according to a new study.
The latest Buy vs Rent report by RP Data has shown that Depot Hill, Norman Gardens, Rockhampton City, West Rockhampton and Berserker are all areas where paying off a mortgage is the cheaper option.
This is based on the assumption of repaying the principal and interest at a variable rate.
The study found Queensland had the greatest number of locales where it is cheaper to buy than rent, accounting for 185 out of the 494 across the country.
The data identified 58 locations in the greater Brisbane area where buying makes greater financial sense.
This was followed by New South Wales where there are 122 suburbs where it's cheaper to repay a mortgage than pay a landlord – 48 of which are found in Sydney.
As far as capital cities are concerned, units or semi-detached properties are generally providing a discount when paying for a mortgage as opposed to rental costs.
Talk to Ray White Rockhampton and let them facilitate your property needs. They will ensure that they find a home that is right for you.
THE Queensland Government delivered on its promise to support manufacturing in Central Queensland, with the opening of a new Manufacturing Hub at Rockhampton’s CQUniversity campus on Tuesday. Minister for Manufacturing Cameron Dick (who was joined by CQUniversity senior deputy vice-chancellor Alastair Dawson, Member for Rockhampton Barry O’Rourke and Member for … Read more
Despite the 2020 market hitting the ground running, sales have started off low with only two sales breaking the $500k mark in the last week. Most sales, apart from a handful on the coast, failed to fetch prices higher than recent sales suggesting Rockhampton is still some way off former … Read more