The rental crisis means one in four homes will be cheaper to buy than rent over the next ten years.

PropTrack’s Buy or Rent Report reveals 3,300 suburbs where it is cheaper to buy than rent.

Nationally 27% of all dwellings are cheaper to buy than rent, down from more than 50% at the same time last year. More than half the dwellings in Queensland, WA and the Northern Territory are estimated to be cheaper to buy rather than rent.

In the Northern Territory 98% of properties fall into this category, followed by Western Australia 62% and Queensland 51%.

High prices in Victoria mean only 7% of properties are cheaper to buy than rent, while only 10% in NSW are in this category.

The figures are calculated by comparing mortgage repayments on the median dwelling price with the median rent.

The biggest difference in payments is in Fly Creek in the Northern Territory where buying is $1,620 cheaper per month than renting.