(Realestate) – The latest realestate.com.au data reveals where you can live a similar lifestyle to your dream rental suburb, but for less.
Lifestyle is a major factor for tenants when searching for their new home, but so is how much money they’re paying in rent.
Use our interactive to see what sister suburbs you could rent in for less
“Over 50% of renters we surveyed recently are looking to buy a property in the future, and so the biggest perk of living in a cheaper rental ‘burb is the ability to save a lot faster and in turn realise their property dreams sooner,” says Kul Singh, Executive Manager – Rent at realestate.com.au.
“For renters not looking to buy in the near to mid term, the biggest perk is having more financial freedom on lifestyle expenses such as travel, purchasing the finer things in life and available spend for hospitality and other experiences.”
However, as important as saving money is to many people, tenants crave a prime location within their city.
“Most renters we speak to tend to prioritise the suburb they live in over the space they live in – that’s because renting can provide the flexibility of living where you want, which may be due to amenities, proximity to work, or lifestyle choices, like being closer to the beach as the hot summers come around,” says Singh.
What if we told you that you could live a similar lifestyle to that of your dream suburb, but for a fraction of the price? We call these suburbs ‘sister suburbs’ and they will help you save more money on rent so you can spend more on that overseas trip you have planned, or put more towards your own house deposit.
The data taken from the 12 months to July 31 2019, highlights one premier neighbourhood per capital city and its much cheaper sister suburb.
Sandringham to Altona, VIC
Fancy life by the beach, but on a budget? Life in Sandringham, to the southeast of Melbourne’s CBD at the water’s edge, offers a laid-back lifestyle with morning walks along Beach Road and proximity to Half Moon Bay, but with a median weekly rent of $848, it’s out of bounds for many tenants.VIC rental reforms: Trust
Instead, consider the other waterside suburb of Altona, which has a similar demographic of older couples and families, and established couples and families. However, it’s half the price at $428 per week.
15 Merritt Court is currently available to rent in Altona for $420 per week.
Clontarf to Maroubra, NSW
Clontarf is the picturesque beachside suburb to the north of Sydney and is home to many high flyers who love mega-mansions and private jetties.
To live the lifestyle of the rich and famous will cost $1,770 per week as a renter.
On the other side of town is Maroubra, which is another beachside suburb a similar distance to Sydney’s CBD.
However here, the median rent is $900 per week, which is $870 less than Clontarf.
If you’re seeking a beachside lifestyle, 2/425 Maroubra Road is just a two minute stroll to the beach.
New Farm to Highgate Hill, QLD
New Farm is Brisbane’s trendy ‘burb where you can find a healthy number of cafes and restaurants all near the Brisbane River.
Here the median weekly rent is $773.
Swap New Farm’s pricey rents for Highgate Hill, which is another riverside ‘burb with a similarly young demographic.
You’ll save $273 a week by making the move.
11 Sankey Street is a newly listed four-bedroom house up for rent for a fraction of what you’d pay in New Farm. Picture: realestate.com.au/rent
Dalkeith to Ascot, WA
Dalkeith is one of Perth’s blue chip suburbs – close to the beach and boasts stunning homes and a laid-back lifestyle.
While sister suburb Ascot may not be next to the beach, it does have river views and is a similar distance to Perth’s CBD.
You’ll pay half the price in rent by choosing Ascot over Dalkeith – $458 per week.
121 Tibradden Circle, Ascot is looking for a new tenant for $450 per week. Picture: realestate.com.au/rent
Forrest to Deakin, ACT
Renting in Forrest, which is known as an affluent suburb of Canberra, will set tenants back $1,090 per week.
However, just four minutes away is Deakin, which costs significantly less in median rent per week at $765.
80 Newdegate Street in Deakin is just four minutes away from Forrest, but will save renters a lot of money. Picture: realestate.com.au/rent
Marrara to Millner, NT
In the Northern Territory, Marrara and Millner share the similarity of being located next to the beach and are only four minutes apart by car.
However, by leaving Marrara and moving to Millner, you’ll save $150 a week in rent.
7/8 Belle Place, Millner is searching for a tenant for $400 per week. Picture: realestate.com.au/rent
Taroona to Montrose, TAS
Taroona and Montrose in Tasmania are both situated on River Derwent, where locals can swim during the warmer months. They are at opposite ends of Hobart with Taroona to the north and Montrose to the south.
Tenants will save $170 a week by living in Montrose as opposed to Taroona.
17 Wandella Avenue is a rental in Taroona with amazing views of the river.
Maylands to Underdale, SA
In Adelaide, Maylands is a trendy picturesque suburb popular among renters with a median rental price of $665 per week.
Underdale is a similar distance from Adelaide’s CBD (5-6km) meaning a comparable commute to work, but a hefty saving of $300 per week.