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Staff Reporter
Queenstown in Tasmania has been identified as the nation’s cheapest suburb for properties.
According to new statistics by RP Data, the small town located on the West Coast region of Tasmania has a median value of $90,723.
Peterborough, located in the northern part of South Australia was second on the list of cheapest suburbs, boasting a median value of $104,071, while Warracknabeal in Victoria rounded out the top three places with a median value of $105,864.
Speaking about the results, RP Data’s national research director Tim Lawless said he wouldn’t be surprised if most Australians had never heard of the towns before as many of the places on the list are “off the beaten track”.
Mr Lawless confirmed that the most affordable city-based suburbs are typically located far from the CBD and come with a lower socio-economic profile; crime rates tend to be high and lower standards of housing exist.
For the purpose of compiling Australia’s cheapest towns and suburbs list, the analysis from Mr Lawless uses median values rather than median prices.
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