We pay about $450 a week on the mortgage. To rent a similar house would cost about $350 a week so we're paying more to own- especially when you add on rates, repairs, house insurance etc.

ETA: We made the decision to buy though as we can afford the mortgage with me being a SAHM and it gives us the freedom to garden and paint etc and also to put down roots somewhere. I had no hesitation renting before that though.