A new report by RP Data has found that Rocherlea in Launceston is the most affordable suburb in Australia, with a median house price of $145,000.
According to the report released yesterday, Geelong was the most affordable housing region in Victoria while Newcastle represented the most affordable city for houses in NSW.
Launceston and Geelong were also well represented on the top 10 list of affordable units, with Launceston recording five of the 10 most affordable suburbs and Geelong home to four.
RP Data’s senior research analyst Cameron Kusher said that while these regions were not the capital cities of each state, they were still worth considering when buying property.
“The second largest cities offer more affordable property with the benefit of big city amenity, which means that they are likely to grow in appeal as linkages with the capital cities continue to improve,” he said.