The report, by RP Data, is dominated by coastal areas in Queensland, though Victoria’s Mildura took out the top spot.
Mildura, in north western Victoria, has a median unit price of only $148,005.
Queensland’s far north assumed the next three positions, with Cairns North, Trinity Beach and Port Douglas.
Units in these suburbs sell for a median value below $245,217.
The Gold Coast also showed off its low entry price, with hinterland suburbs Labrador and Nerang, as well as beachside Mermaid Waters, making it into the top 10.
North Ward in Townsville also featured on the list. This inner-city, waterfront suburb offers units at a median price of $293,127.
New South Wales had only two entries in the report, both major population centres along the north coast.
Coffs Harbour, 540 kilometres north of Sydney, had a median unit price of $260,033, while Port Macquarie units sold for a median of $288,479.
RP Data based its analysis on sales data from February 2014 and considered only markets recording at least 100 sales over the past year.