25 Best Bets For Bargain Hunters

RP Data has released their list of cheapest suburbs to buy a property around Australia, and there are some serious bargains to be had.

The 25 most affordable suburbs are geographically diverse. They are usually a long way from the CBD or nearest capital city, and have a lower socio-economic profile.

Queenstown, the largest town on Tasmania’s Western Coast, is the cheapest place in the country to buy a home, with properties available from $35,000 through to the low $100,000’s. Established to serve surrounding copper fields, it is now more known for tourism than mining.

Meet our cheapest suburb…

Within Australia’s capital cities, Davoren Park is is the country’s cheapest suburb. Approximately 25km north of Adelaide, the suburb has a median property value of just $175,357, and more than half of all dwellings are rented.

Tasmania, South Australia and Victoria dominate the top 25 cheap suburbs list, with the Australian Capital Territory, Northern Territory and Western Australia barely making it into the top 100.

Moora, in WA, came in at 98, with a median value of $193,637. Johnston, in the Top End, placed 291 with a median value of $249,110. And the ACT’s Charnwood ranked 1260 with a median property value of $381,579, significantly higher than the mostaffordable suburbs in most other capital cities.

Here’s the top 25 cheapest suburbs around Australia, their median property price and a sample of the listings currently on offer in each.

1. Queenstown, TAS

2. Peterborough, SA

3. Warracknabeal, VIC

4. Dimboola, VIC

5. Coober Pedy, SA

6. Coleraine, VIC

7. Hughenden, QLD

8. Barraba, NSW

9. Coonamble, NSW

10. Casterton, VIC

11. Nhill, VIC

12. Port Pirie West, SA

13. Bourke, NSW

14. Finley, NSW

15. Warren, NSW

16. Wellington, NSW

17. Berrigan, NSW

18. Gilgandra, NSW

19. St Arnaud, VIC

20. Broken Hill, NSW

21. Lightning Ridge, NSW

22. Hay, NSW

23. Merbein, VIC

24. Mount Morgan, QLD

25. Morwell, VIC

RP Data estimates that the value of virtually every residential property across the country; taking the middle ‘value’ for each suburb provides a much more reliable indication of what a buyer is likely to pay for the typical house within a suburb or town, compared with the median price which is based on only those homes that have sold during the period.

Additionally, RP Data has excluded those suburbs recording fewer than 20 house sales over the past 12 months.

Source: realestate.com.au