Head off the beaten path to find property bargains
Living in a major city obviously has its plus points, but Aussies who have a budget to stick to when looking for a new home should cast their net a little wider.
According to new figures released by RP Data, there is far better value to be had in remote parts of Australia and there are more than 20 locations where the median house price is below $150,000.
Meanwhile, Davoren Park in South Australia was found to be the best destination for budget-conscious mortgage customers who are searching for properties in capital city suburbs.
It had a median house value of $175,357, while Bridgewater in Tasmania also represented good value with an average asking price of $177,822.
The latest Commonwealth Bank/Mortgage & Finance Association of Australia Home Finance Index showed that 63 per cent of Aussies think now is the perfect time to get on to the property ladder, as prices are expected to rise in the future.
"Today's analysis confirms that the 25 most affordable suburbs are geographically diverse and often have long histories of settlement," commented RP Data research director Tim Lawless.