Where to find cheaper rent in surrounding suburbs
Did you know that often suburbs right near popular areas can be quite a bit cheaper?
By moving to a neighbouring suburb, renters can potentially save up to $490 a week, an analysis of realestate.com.au/invest data reveals.
So if you’re looking for a better deal, you may not have to go far at all.
Where’s the cheapest suburb to rent near you?
How much cheaper?
The top 10 areas with stark price differences in rent are spread across Brisbane, Melbourne, Sydney and Perth. All of these areas have other suburbs nearby where the median rental price is much cheaper, but still within 20km of the nearest CBD.
Renters can often save a lot without sacrificing too much in terms of amenities and location, according to REA Group Chief Economist Nerida Conisbee.
“There are big savings that can be made for renters to move into a neighbouring suburb, up to $25,000 per annum,” she says.
The data analysed included areas with at least 10 rental listings within the 12 months up to August 30, 2016. Each property had to have a price of at least $100 per week but no more than $1500 per week, to meet the data requirements. Each area had 10 active listings on realestate.com.au/rent as of September 6, 2016.