Why it is better to buy than rent in Queensland


Home seekers in Queensland are better off buying than renting, according to the latest report from CoreLogic.

The report showed that 55% of homes in Brisbane and 73% of dwellings in regional Queensland are now cheaper to buy than to rent. This was higher than the national record at 36%.

The report showed that it was cheaper to buy than rent in 97 suburbs in Queensland, based on data recorded in March. Mortgage payments in these suburbs were lower than $250 per week.

Tim Lawless, research director at CoreLogic, said Queensland has a “healthier” mortgage serviceability rate given its softer housing market conditions during the previous growth cycles compared to New South Wales and Victoria.

Lawless said Brisbane’s housing market had relatively softer gains in housing values over the past decade, making it a more affordable options compared to larger capitals.

“In fact, over the past 10 years, Brisbane housing values have increased at a much lower rate than Sydney or Melbourne. Brisbane values are up 33% since June 2011 compared with a 90% rise in Sydney housing values and a 58% lift in Melbourne housing values,” he told The Courier Mail.


Top Suburbs :


dulwich hill


,

rockville


,

artarmon


,

wentworthville


,

kariong


Get help with your investment property


Do you need help finding the right loan for your investment?

When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.

Just fill in a few details below and we’ll then arrange for a local mortgage broker to contact you and work out what features or types of loans are right for your needs. We’ll even help with the paperwork. Plus an appointment is free.

 

We value your privacy and treat all your information seriously – you can check out
our privacy policy here





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *