With Melbourne property prices remaining subdued, the gap between rental costs and mortgage repayments has narrowed, which means first-time buyers, particularly renters, are finding homeownership more attractive and attainable.
This shift is leading to an unusual trend: renters are increasingly able to purchase their rented properties from their rental providers.
Historically, while common to express interest, such transactions rarely materialised. Now, we’re observing a shift where these intentions are frequently turning into successful property purchases.
Jarrod is joined by Wakelin’s property management expert and buyers’ agent, Jordan Telfer, to explore this trend.