Buying a house is now almost two and a half times as expensive as renting, according to figures to be presented at a seminar today.

Property Investors Federation vice-president Andrew King says a 25-year mortgage for 90 per cent of the cost of the country’s median-priced house, worth $345,000 last month, would currently cost a new home-buyer $745 a week, including rates, maintenance, insurance and an allowance for other costs.

By contrast, the national median rent last month was only $305 a week. (more…)