New research has revealed that at least 37 percent of suburbs across the country have better mortgage repayments that cost a lot less than a renter’s weekly payment. This is more apparent in Bellevue Hill and some suburbs in the outskirts of Sydney’s cities.
Domain.com.au senior research analyst Dr Nicola Powell said that this is great news for first-time buyers who want to invest in their own house but it’s also good news for renters who would receive more payment.
Whilst it is generally cheaper to rent than repay mortages in Sydney, the difference is only minimal and hardly noticeable, giving renters a savings of at least $10 to $62 a week.
According to their latest data, house rental vs mortgages has ballooned to $2,782 a week in Bellevue Hill and it is the biggest rate in Australia. In 2018, Corelogic also released data indicating that the advertised weekly median rents in this suburb were at $2,695 a week.
The research was based on the 2020’s median sales and rent data, and did not include housing costs like maintenance, Council rates and stamp duty.
This quiet hillside hideaway is a sanctuary for many high rollers as it is close to the beach yet located within minutes of shopping and dining choices at the CBD or neighbouring suburbs like Bondi Junction or Rose Bay.
Families also settle in these rolling hills as it has some of the best private schools in the region.
Meanwhile, here are the suburbs with higher weekly rent payments than mortgage repayments in the country.
| Suburb | State | Weekly repayment | Weekly Rent | Difference between buying and renting |
| Mollymook Beach | NSW | $645 | $1,260 | -$615 |
| Middleton | SA | $466 | $1,050 | -$584 |
| Port Elliot | SA | $433 | $1,015 | -$582 |
| Malua Bay | NSW | $532 | $800 | -$268 |
| Newman | WA | $206 | $451 | -$245 |
| Nickol | WA | $429 | $670 | -$241 |
| Port Hedland | WA | $383 | $601 | -$218 |
| Muirhead | NT | $418 | $615 | -$197 |
| Moranbah | QLD | $231 | $420 | -$189 |
| South Hedland | WA | $223 | $400 | -$177 |
| Cable Beach | WA | $426 | $600 | -$174 |
| Tuross Head | NSW | $422 | $590 | -$168 |
| Gillen | NT | $355 | $510 | -$155 |
| Bulgarra | WA | $348 | $500 | -$152 |
| Box Hill | NSW | $424 | $575 | -$151 |
| Broken Hill | NSW | $125 | $270 | -$145 |
| Rasmussen | QLD | $184 | $325 | -$141 |
| Goolwa South | SA | $295 | $435 | -$140 |
| Woodridge | QLD | $165 | $300 | -$135 |
| Manoora | QLD | $248 | $383 | -$134 |