property
Suburbs Where Buying Is Now Cheaper Than Renting
Several northern Perth neighbourhoods now show lower monthly ownership costs than rents for similar homes as market dynamics shift.
How we reported this
In Joondalup and parts of Wanneroo, the monthly cost of servicing a mortgage on a typical three-bedroom house has slipped below the rent charged for the same property type, according to local agent listings checked this week.
The change matters because Perth has recorded the strongest capital growth among Australian cities over the past year, driven by mining sector expansion and persistently tight rental supply. Renters weighing a purchase now face a direct comparison that favours ownership in selected pockets rather than the broad market pattern seen in Melbourne or Adelaide.
Northern corridor examples
Along streets such as Lakeside Drive in Joondalup and Wanneroo Road near the regional centre, agents report asking rents of $550 to $600 a week while comparable homes sell for figures that produce repayments below those levels once a standard deposit is applied. The WA government’s first home owner grant, administered through the Department of Finance, remains available for eligible buyers in these postcodes and continues to reduce the effective entry cost.
Market observers tie the shift to sustained demand from resources workers relocating to the north and vacancy rates that have stayed below one per cent for more than twelve months. Realestate.com.au data on Perth listings show inventory in these suburbs has not kept pace with buyer interest since the start of 2025.
Next steps for households
Anyone currently renting in Joondalup or Wanneroo should obtain a current valuation and speak with their lender about fixed-rate options before the next interest-rate review cycle. Checking eligibility for the state grant and stamp-duty concessions through the Department of Finance website takes only minutes and can confirm whether ownership now pencils out cheaper than continuing to rent.
This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.