Australia's most affordable suburbs revealed
With this in mind, bargain shoppers may want to look at Tasmanian real estate as the state is home to the most affordable suburb in Australia.
According to RP Data's Top 25 Most Affordable Suburbs, Queenstown, in Tasmania's west coast region, commands an average house price of $90,723 - making it the country's cheapest postcode.
South Australia is home to a number of cost-friendly suburbs, including Peterborough which will set buyers back an average of $104,071 for a property.
Coober Pedy and Port Pirie West are also South Australian entrants on the top 25 affordable property list, with both suburbs recording median house prices of less than $130,000.
More than ten suburbs in New South Wales featured on the list including Barraba in Tamworth which boasts the most affordable property in the state, with house prices averaging $121,117 in the region.
Coonamble, Bourke, Finley, Warren, Wellington, Gilgandra, Broken Hill, Lightning Ridge, Hay and Berrigan are also hot spots for savvy buyers looking for property under the $150,000 mark.
Warracknabeal and Dimboola are Victoria's cheapest suburbs, with house prices of $105,864 and $107,470 respectively.