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Conditions favour buyers as rents grow strongly

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Conditions favour buyers as rents grow strongly

Rents have surged over the past year, with houses outperforming units, according to SQM Research.

Over the year to 20 May, average weekly rents jumped by 15.7% for houses throughout Australia and 7% for units. Houses also outperformed units in every capital city.

Meanwhile, thanks to record-low interest rates, conditions favour buyers over renters.

It’s cheaper to buy than rent 59.1% of three-bedroom houses and 83.8% of two-bedroom units throughout Australia, according to REA Insights.

This analysis is based on the assumption buyers have a 20% deposit and property prices will grow by 3% per year over the next decade.

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