Great Australian Dream: A property for a song

by BN16 May 2012

Do your clients have $35,000 sitting in the bank? Well, that would be enough to buy themselves a house in Australia’s cheapest suburb outright. So much for the affordability furore.

Read on for the top 10 cheapest suburbs in each state and territory. And guess what? Almost three-quarters of the selected suburbs have a median price of less than $200,000.

Brewarrina in New South Wales takes the title of Australia’s cheapest suburb, with a median house price of just $35,000. In fact, NSW, is the best represented state in the top 10, with four suburbs making the list.

Meanwhile, Tasmania is home to three of Australia’s cheapest suburbs, while Queensland has two and South Australia one.

State

Suburb

Type

Median Price

12 month Growth

Average Annual Growth

Gross Rental Yield

NSW

BREWARRINA

H

$35,000

n.a

n.a

n.a

QLD

NELLY BAY

U

$40,000

n.a

n.a

46%

NSW

UNGARIE

H

$62,000

n.a

n.a

n.a

NSW

PEAK HILL

H

$63,000

-13%

8.1%

n.a

QLD

CUNNAMULLA

H

$64,000

21%

12.3%

n.a

TAS

ZEEHAN

H

$67,000

-16%

25.2%

12%

TAS

QUEENSTOWN

H

$75,000

5%

18.1%

10%

TAS

ROSEBERY

H

$75,000

22%

24.0%

10%

NSW

BOURKE

H

$75,000

-12%

6.7%

n.a

SA

PINNAROO

H

$80,000

n.a

n.a

n.a

Source: RP Data, March 2012

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COMMENTS

  • by Country Broker 16/05/2012 10:10:36 AM

    These locations are not suburbs they are small towns with little infrastructire or are located in remoter areas of Aus .