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.