Here are the suburbs where it’s cheaper to buy than rent

According to Domain’s latest research, calculated on the basis of median prices and rents, paying down a mortgage is now cheaper than renting in 722 suburbs for houses and 180 suburbs for units.

Topping Domain’s list for house affordability is NSW’s Mollymook Beach, where the weekly difference between buying and renting currently sits at $615.

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Top 10 suburbs where it’s cheaper to buy a house than rent one
Suburb	State	Region	Weekly difference between buying and renting
Mollymook Beach	NSW	NSW Country	-$615
Middleton	SA	Country South	-$584
Port Elliot	SA	Country South	-$582
Malua Bay	NSW	NSW Country	-$268
Newman	WA	WA Country	-$245
Nickol	WA	WA Country	-$241
Port Hedland	WA	WA Country	-$218
Muirhead	NT	Darwin	-$197
Moranbah	QLD	Qld Rural	-$189
South Hedland	WA	WA Country	-$177

Source: Domain

If purchasing a unit, however, Domain suggests buyers cast their gaze at the ACT. 

Top 10 suburbs where it’s cheaper to buy a unit than rent one
Suburb	State	Region	Weekly difference between buying and renting
Gungahlin	ACT	Gungahlin	-$165
Darwin City	NT	Darwin	-$162
Mount Lawley	WA	City	-$155
Mudgeeraba	QLD	Gold Coast Nerang and Hinterland	-$154
City	ACT	Canberra Central	-$150
Clifton Beach	QLD	Cairns	-$148
Manoora	QLD	Cairns	-$137
Townsville City	QLD	Townsville	-$136
Pacific Pines	QLD	Gold Coast Nerang and Hinterland	-$134
Cairns North	QLD	Cairns	-$132

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Rent refers to the payment made by a tenant periodically to a landlord for the use and occupancy of a property.

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