REVEALED: Southwest towns have Australia’s cheapest homes
Towns in the southwest have taken the number one spot for cheapest house prices, and cheapest weekly rentals in 2019. Find out which locations made the top 10.
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CUNNAMULLA has topped the list for cheapest homes in Australia this year, with the town boasting a median house price of $36,867.
The number one ranking comes from CoreLogic's Best of the Best 2019 report, which takes property market data from the past 12 months and determines market performance from across the year, ranging from median value, to capital growth, and rental yields.
While the highest median values came from locations in Sydney and Melbourne (as to be expected), Cunnamulla topped the list for lowest median values, with neighbouring Charleville and Tara on the Western Downs also making the top 10.
The rankings for lowest median values are:
1. Cunnamulla, QLD: $36,867
2. Morawa, WA: $45,461
3. Mullewa, WA: $45,549
4. Norseman. WA: $53,498
5. Baradine, NSW: $56,414
6. Tara, QLD: $56,756
7. Leonora, WA: $58,809
8. Charleville, QLD: $61,229
9. Kambalda East, WA: $64,613
10. Coober Pedy, SA: $67,701
The southwest was also home to the cheapest weekly rent and highest rental yields in Australia this year.
Blackall took out the top spot on both rankings, with the median rent coming in at just $160 per week, and rental yield sitting at 15 per cent; the median value for a rental property in Blackall is $69,759.
The rankings for lowest median advertised rents (weekly) are:
1. Blackall, QLD: $160
2. Queenstown, TAS: $160
3. Zeehan, TAS: $170
4. Coober Pedy, SA: $170
5. Peterborough, SA: $170
6. Whyalla Stuart, SA: $170
7. Risdon Park, SA: $183
8. Warracknabeal, VIC: $185
9. Ouyen, VIC: $200
10. Rangeway, WA: $200
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