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Sydney house market: Lakemba and Punchbowl last region where it is cheaper to buy than rent

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Record low interest rates have made homeownership cheaper than renting in many Sydney suburbs despite house prices growing at the fastest rate since 1988.

With dwelling values are up 6.7 per cent since the start of the year to $928,028, monthly mortgage repayments remain lower than rent in many instances, especially for apartment buyers.

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Property buyers got the biggest savings compared to renters in Sydney’s west with a high concentration of apartments and/or renters.

PRD revealed Lakemba, Merrylands, Punchbowl and Wiley Park are the only suburbs left in Sydney where it was cheaper to buy an…



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