Should you rent or buy?
A NEW report has shown it is still cheaper for people on the Fraser Coast to rent a home than to buy one, bucking a trend seen across the rest of regional Queensland.
The annual buy versus rent property report released by RP data yesterday measured the cost of buying compared to renting across all suburbs in each region using the principal and interest parts of a mortgage repayment.
The report showed there were no suburbs in the Wide Bay-Burnett region that were cheaper to buy than rent.
Thanks to a strong regional population and the mining industry, Wide Bay-Burnett and the Central West were the only two regional areas in Queensland where it was still cheaper to rent in every single suburb.
"The stronger performance of the regional markets is reflective of the fact that a majority of Queenslander's live outside of Brisbane and in particular it highlights the strength of the mining and resources regions across the state," the report said.
The mining town Moranbah, near Mackay, was the number one regional suburb to buy a home thanks to a median weekly rent of $1900.
A second housing market report released yesterday showed a 50% rise in median rental price over the past year.
The PRD nationwide Australia Home Affordability Analysis report showed Queensland had an average weekly rent of $300.
The state tied with Western Australian and New South Wales for the highest average in the country.