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Australia's cheapest suburbs revealed

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Housing affordability may be a huge issue in Australia these days, but a timely report released by CoreLogic RP Data showed that there are still affordable suburbs within the nation's capital cities.

Topping the list is Herdman's Cove in Tasmania's Brighton area, where the average cost of a house is only $137,724. Another affordable suburb within the same area is Gagebrook, with an average cost of $140,650. Clarendon Vale in Clarence area rounds up Tasmania's cheapest suburbs at an average price of $154,642.

South Australia also has some of the cheapest suburbs in the country, like Davoren Park, Elizabeth North, and Smithfield Plains, which all fall below the $200,000-mark. Meanwhile, cheap houses in Victoria and Queensland are still below $300,000 while those who want to live in Western Australia, Northern Territory, and ACT should be ready to pay around $276,000 to $511,000.

Those who want to live near Sydney have to dish out a little less than $400,000 for houses in New South Wales. But the good news is, four out of five of the cheapest suburbs in NSW are actually located on the Central Coast, which is increasingly being seen as an extension of metro Sydney. In fact, it is now a popular choice among first home buyers who are willing to commute.

But aside from looking at affordable houses, property expert John McGrath also emphasized the importance of "improving your own 'affordability,'" such as taking advantage of low interest rates, considering a second job, and compromising on property type and desired location.

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