{"id":10226,"date":"2012-09-05T17:20:28","date_gmt":"2012-09-05T07:20:28","guid":{"rendered":"http:\/\/southburnett.com.au\/news2\/?p=10226"},"modified":"2021-01-29T13:57:33","modified_gmt":"2021-01-29T03:57:33","slug":"cheaper-to-rent-than-buy-in-region","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2012\/09\/05\/cheaper-to-rent-than-buy-in-region\/","title":{"rendered":"Cheaper To Rent Than Buy"},"content":{"rendered":"
\"\"<\/a>
It’s currently cheaper to rent than buy in the South Burnett\u00a0<\/figcaption><\/figure>\n

September 5, 2012<\/strong><\/p>\n

A new study into housing affordability by RPData has found that it’s cheaper to rent housing in the South Burnett than it is to buy it.<\/p>\n

The national study identified 3000 towns and suburbs across Australia where it’s currently cheaper to take out a mortgage than to rent.<\/p>\n

But the South Burnett isn’t among them.<\/p>\n

Thanks to a flat property market, at present the average person can save between $899 and $3150 a year by choosing to rent in the region rather than buy a house or unit.<\/p>\n

For the purposes of the study, RPData looked at median house prices and median advertised weekly rents for every suburb and town in Australia.<\/p>\n

To compare the benefits of renting versus buying, they also assumed that buyers would outlay a 10 per cent deposit.<\/p>\n

And then they computed what average monthly repayments would be if buyers repaid principal and interest or interest-only loans on the average current variable rates or fixed rates offered by lending institutions.<\/p>\n

The table below shows the South Burnett outcomes (monthly repayments are based on a principal plus interest variable rate loan rather than an interest-only loan or fixed rate loan):<\/p>\n

 <\/p>\n\n\n\n\n\n\n\n\n\n\n
\n
Town<\/div>\n<\/th>\n
\n
Property Type<\/div>\n<\/th>\n
\n
Median Value<\/div>\n<\/th>\n
\n
Median Rent<\/div>\n<\/th>\n
\n
Monthly Payments<\/div>\n<\/th>\n
\n
Monthly Difference<\/div>\n<\/th>\n
\n
Yearly Difference<\/div>\n<\/th>\n<\/tr>\n
\n
Blackbutt<\/div>\n<\/td>\n
\n
House<\/div>\n<\/td>\n
\n
$215,246<\/div>\n<\/td>\n
\n
$220<\/div>\n<\/td>\n
\n
$1180<\/div>\n<\/td>\n
\n
$226.87<\/strong><\/div>\n<\/td>\n
\n
$2722<\/div>\n<\/td>\n<\/tr>\n
\n
Nanango<\/div>\n<\/td>\n
\n
House<\/div>\n<\/td>\n
\n
$222,494<\/div>\n<\/td>\n
\n
$230<\/div>\n<\/td>\n
\n
$1220<\/div>\n<\/td>\n
\n
$223.28<\/strong><\/div>\n<\/td>\n
\n
$2680<\/div>\n<\/td>\n<\/tr>\n
\n
Kingaroy<\/div>\n<\/td>\n
\n
House<\/div>\n<\/td>\n
\n
$227,858<\/div>\n<\/td>\n
\n
$260<\/div>\n<\/td>\n
\n
$1249<\/div>\n<\/td>\n
\n
$122.69<\/strong><\/div>\n<\/td>\n
\n
$1472<\/div>\n<\/td>\n<\/tr>\n
\n
Kingaroy<\/div>\n<\/td>\n
\n
Unit<\/div>\n<\/td>\n
\n
$185,235<\/div>\n<\/td>\n
\n
$215<\/div>\n<\/td>\n
\n
$1016<\/div>\n<\/td>\n
\n
$83.98<\/strong><\/div>\n<\/td>\n
\n
$1008<\/div>\n<\/td>\n<\/tr>\n
\n
Wondai<\/div>\n<\/td>\n
\n
House<\/div>\n<\/td>\n
\n
$201,987<\/div>\n<\/td>\n
\n
$195<\/div>\n<\/td>\n
\n
$1108<\/div>\n<\/td>\n
\n
$262.51<\/strong><\/div>\n<\/td>\n
\n
$3150<\/div>\n<\/td>\n<\/tr>\n
\n
Murgon<\/div>\n<\/td>\n
\n
House<\/div>\n<\/td>\n
\n
$167,782<\/div>\n<\/td>\n
\n
$195<\/div>\n<\/td>\n
\n
$920<\/div>\n<\/td>\n
\n
$74.95<\/strong><\/div>\n<\/td>\n
\n
$899<\/div>\n<\/td>\n<\/tr>\n
\n
Goomeri<\/div>\n<\/td>\n
\n
House<\/div>\n<\/td>\n
\n
$177,761<\/div>\n<\/td>\n
\n
$185<\/div>\n<\/td>\n
\n
$975<\/div>\n<\/td>\n
\n
$173.00<\/strong><\/div>\n<\/td>\n
\n
$2076<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

\u00a0The full national report can be downloaded RPData’s website<\/a>.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

A new study into housing affordability by RPData has found that it’s cheaper to rent housing in the South Burnett than it is to buy it. <\/p>\n","protected":false},"author":4,"featured_media":10239,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3],"tags":[],"yoast_head":"\nCheaper To Rent Than Buy - southburnett.com.au<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/southburnett.com.au\/news2\/2012\/09\/05\/cheaper-to-rent-than-buy-in-region\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cheaper To Rent Than Buy - southburnett.com.au\" \/>\n<meta property=\"og:description\" content=\"A new study into housing affordability by RPData has found that it's cheaper to rent housing in the South Burnett than it is to buy it.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/southburnett.com.au\/news2\/2012\/09\/05\/cheaper-to-rent-than-buy-in-region\/\" \/>\n<meta property=\"og:site_name\" content=\"southburnett.com.au\" \/>\n<meta property=\"article:published_time\" content=\"2012-09-05T07:20:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-01-29T03:57:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/southburnett.com.au\/news2\/wp-content\/uploads\/2012\/09\/kingaroy-rental.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"620\" \/>\n\t<meta property=\"og:image:height\" content=\"352\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anne Miller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anne Miller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/southburnett.com.au\/news2\/2012\/09\/05\/cheaper-to-rent-than-buy-in-region\/\",\"url\":\"https:\/\/southburnett.com.au\/news2\/2012\/09\/05\/cheaper-to-rent-than-buy-in-region\/\",\"name\":\"Cheaper To Rent Than Buy - 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