The rental market across Victoria has grown strongly over the past five years, outperforming the sales market in metropolitan areas.
REIV analysis comparing mortgage repayments with median rents identified seventeen metro suburbs where it would now be cheaper to buy than rent a unit or apartment. The analysis assumed an interest rate of 5.68 per cent owner-occupier paying principal and interest (as reported by the Reserve Bank of Australia in July 2025), 20 per cent deposit with no lenders mortgage insurance (LMI).
For renters looking for opportunities to buy their first home, use the REIV Suburb Scout tool to find suburbs that match the type of property and price range they are looking for. Try searching for an ideal suburb or proximity from the CBD, and the search results will show you suburbs that might suit your property and price needs based on recent sales data.