Research shows servicing a mortgage on a unit in Melbourne's CBD costs about $322 per fortnight less than renting, making it one of few Australian areas where buying is cheaper than renting due to increased apartment supply and tight rental vacancies. Experts warn the advantage may be temporary, with forecasted interest rate hikes likely to narrow the gap, and note that buying remains more expensive than renting in most Australian suburbs and nearly all house markets.
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Research shows servicing a mortgage on a unit in Melbourne's CBD costs about $322 per fortnight less than renting, making it one of few Australian areas where buying is cheaper than renting due to increased apartment supply and tight rental vacancies. Experts warn the advantage may be temporary, with forecasted interest rate hikes likely to narrow the gap, and note that buying remains more expensive than renting in most Australian suburbs and nearly all house markets.