Divorcees are another growing group of people in our society.
Divorcees, Generation Y - Thursday, March 5, 2009 15:10 - 0 Comments
The following report is a RP Data Property Pulse release from 5 March 2009.
A recent report from RP Data Research, commissioned by the Commonwealth Bank of Australia, identified 74 suburbs around Australia where, on average, it is more affordable to buy a home than rent.
Over the last year there have been some fundamental shifts in the Australian property market. Property values have fallen, albeit by a modest 2.9 percent during the 2008 calendar year, interest rates have fallen to a 45 year low, and weekly rents have recorded several years running of dramatic growth.
The effect of these combined factors is that many renters are now doing their sums to work out whether paying off a mortgage is actually going to be cheaper than paying a landlord.
The results may come as a surprise to some. The analysis has identified 74 suburbs across the nation, where, on average, it is now more affordable to buy a home rather than rent. The majority of these suburbs are in regional locations, often where housing demand driven by the resources sector has pushed rents very high. However, there are 34 suburbs (46 percent) within the nation’s capital city metro areas (including South East Queensland’s Gold Coast and Sunshine Coast) that also fit the criteria of being more affordable to buy than rent. Continue…