Renting still cheaper than purchasing in Australian housing market

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Renting a house in Australia is still more affordable than purchasing a home, says Real Estate Institute of Australia President Hayden Groves.

“If you look at the data across the last 20 years, rental affordability has hardly changed at all, whereas, of course, it’s far less affordable to buy a house nowadays than it was 20 years ago,” he said.

“The reality is, is that it is still substantially more affordable to rent a home in Australia than it is to buy.”

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