The Hobart suburbs where it is cheaper to buy than rent: RP Data

Cassidy KnowltonDecember 8, 2020

The greater Hobart suburb of Herdsmans Cove, some 25 kilometres from Hobart CBD, leads the Hobart list compiled by RP Data of suburbs where it is cheaper to buy a unit than to rent one.

RP Data compared the cost of a mortgage vs the cost of renting in four different ways: 1, Principal and interest loan on a variable mortgage rate; 2. Interest-only loan on a variable mortgage rate; 3. Principal and interest loan on a three-year fixed mortgage rate; and 4. Interest-only loan on a three year fixed mortgage rate.

The data contains both units and houses, but in most suburbs on the list it is cheaper to buy a unit than buy one.

The median house asking rent in Herdsmans Cove is $235 a week, according to RP Data, which estimates it is $248 cheaper per month to buy a house with a principal and interest variable mortgage than rent one.

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For the full list of all suburbs, visit RP Data's website.

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