Cheaper to buy property than rent, according to One Roof report

Author
Newstalk ZB,
Publish Date
Fri, 9 Aug 2019, 10:40AM
Photo / Getty Images

Cheaper to buy property than rent, according to One Roof report

Author
Newstalk ZB,
Publish Date
Fri, 9 Aug 2019, 10:40AM

Landlords could exit the housing market following reports it's cheaper to buy than rent.

A One Roof report shows that in about a fifth of surveyed suburbs, mortgage payments are sometimes $1000 cheaper a month than renting.

The report shows in central Auckland, people could save $800 a month if they buy instead of rent.

One Roof commentator Ashley Church told Mike Hosking there could be an exodus of inexperienced landlords from the market.

But he says smart investors will stick it out and wait for the market to turn again.

Church says it shows people are better getting their own mortgage, than helping pay their landlord's.

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