A year ago the cost of renting was similar to the cost of regular mortgage repayments, Mr Tulip said.
“What has changed since then is that real long-term interest rates have fallen substantially,” he said, according to Fairfax Media.
“That fall made housing more attractive relative to renting, despite the increase in prices,” he said.
His research found that the annual cost of owning a home bought in April was likely to be 2.7% of its value, while the annual cost of renting the same home was likely to be 3.9%.
Meanwhile, separate data published by Domain Group showed rental costs had continued to rise in nearly every Australian capital city.
The median weekly rent for a Sydney house was A$530 ($393, £256), up 1.9% over the past quarter.
Over the past 12 months, house prices in Sydney had risen 16.2%, in Melbourne they were up 10.2% while average prices in other capital cities had risen by 9.8%, according to Fairfax Media.
