Monday, July 15, 2013

Mt Hawthorn, Burswood, Sorrento Cheaper to Buy than Rent

    Almost a year ago, we posted the results of RP Data's "Rent or Buy" report which we showed the top 13 suburbs in Perth where the rent is more expensive than it is to buy the house. You can read that article here. Interestingly, this year's report shows 26 Perth suburbs that are cheaper to buy than it is to rent assuming a variable interest rate of 5.4% and that you repay the principal and interest. Mt Hawthorn units start the list a massive saving of $1,197 per month if you were to buy a unit rather than rent. Buying a house in Burswood will save you $693 per month and a house in Coolbellup will save on average $101 per month if you buy.

    Suburb           House/Unit    Difference
    Mount Hawthorn Unit -$1,197
    Burswood House -$693
    Sorrento Unit -$605
    Ascot Unit -$486
    Perth -$287
    East Perth Unit -$222
    Alkimos House -$168
    Girrawheen Unit -$162
    Beckenham Unit -$157
    Balga Unit -$139
    Orelia -$134
    Bibra Lake Unit -$109
    Wilson Unit -$106
    Queens Park -$104
    Coolbellup Unit -$101
    Brookdale House -$100
    Bullsbrook House -$99
    Thornlie Unit -$94
    Bassendean Unit -$83
    Seville Grove Unit -$70
    Waikiki Unit -$46
    West Perth Unit -$32
    Burswood Unit -$31
    Canning Vale Unit -$18
    Gosnells Unit -$14

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