NSW town cheapest regional market: RP Data

NSW town cheapest regional market: RP Data

16 April 2014 by Staff Reporter 2 comments

Broken Hill has been tipped as the country’s most affordable regional area, according to RP Data.

An analysis by the research company identified 10 country towns where houses have the lowest median price.

Broken Hill, located in the far west of New South Wales, took out the top spot with a median value of just $149,811.

According to the figures, the resources-driven town has seen a strong performance over the past decade with average annual growth coming to 11 per cent per annum.

Meanwhile, in the rental market, investors can see gross rental returns of over 9.2 per cent.

With 353 sales in the 12 months to March, the property market is fairly active given the town’s population of just under 18,500 people.

Victoria’s Gippsland region also rated highly in RP Data’s ranking, with the towns of Morwell and Moe slotting in at spots two and three.

Both towns have a median house price of under $179,000.

Over the past decade, Morwell has seen annual growth of 5.4 per cent per year, while Moe recorded yearly growth of 6.5 per cent.

Stawell and Ararat rounded out Victoria’s entries in the list.

New South Wales also offers bargain buys in the towns of Leeton, Deniliquin, Cowra, Forbes and Junee.

 

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