The suburbs where it's cheaper to buy than rent

As the coronavirus continues to wreak havoc on the housing market, Queensland is defying expectations – in some suburbs, it's cheaper to buy than to rent.

Jessica Arneill has been renting for seven years, but has finally achieved the dream of buying her own home.

"We were paying $440 a week (rent), now with our mortgage it's actually $20 cheaper with our own house," she said.

It's a similar story across the state's south-east.

Currently, a $400,000 loan over 30 years at three percent nets a repayment of $390 a week.

In many suburbs – including North Lakes, Narangba, Morayfield, Darra, Rocklea, Acacia Ridge, Forest Lake, Ipswich, Ormeau, Pimpama and Upper Coomera, buying a property actually costs less.

The first home-buyer's grant, low interest rates and other incentives like reduced stamp duty and the builder's grant, are helping the region defy the COVID-19-induced property slump.