The rent versus buy decision is one of the most significant financial choices Australians make. The answer depends on individual circumstances including income, savings, family situation, career stability, and the specific property market in their location.
Homeownership rates in Australia have declined gradually over the past two decades as property prices have made purchasing increasingly difficult for younger generations. The ABS Survey of Income and Housing tracks homeownership rates by age group across all states and territories.
The financial case for buying versus renting varies significantly by location. In cities with high price-to-rent ratios like Sydney and Melbourne the comparison is more complex than in cities with lower property values.
Data sourced from ABS Survey of Income and Housing and CoreLogic Rental Review. Updated quarterly.