Cheaper to rent on Fraser Coast
A NEW report has shown it is still cheaper for people on the Fraser Coast to rent a home than to buy, bucking a trend seen across the rest of regional Queensland thanks to the mining boom.
The annual buy versus rent property report released by RP data this morning measured the cost of buying compared to renting a property across Australia using principal and interest parts of a mortgage repayment.
The report showed there was not one suburb in the Wide Bay-Burnett region that was cheaper to buy than rent.
Thanks to a strong regional population and the mining industry, Wide Bay-Burnett and the Central West were the two regional areas in Queensland where it was still cheaper to rent.
Mining town Moranbah, near Mackay, was the number one suburb to buy a home thanks to a median weekly rent of $1900.
It showed buying a home in the resource-rich region could be more than $4000 cheaper per week than renting.
Dysart, also near Mackay, and Blackwater in the Fitzroy region rounded out the top three.