While finding genuine “cheapies” in Australia’s capital cities is becoming harder, it’s not impossible.

Hotspotting’s latest Cheapies With Prospects report has identified ten markets with affordable entry points, which are expected to experience continued demand and long-term price growth.

The top 10 list includes house and unit markets with regional Australia offering many viable options for investors.

Ballarat in Victoria leads the list due to its affordability, scale, economic depth, and major infrastructure investment.

Broken Hill in New South Wales with a median house price of just $220,000, is the most affordable option, although Hotspotting managing director Tim Graham says it is an “absolute roughie”, which is best suited to experienced investors chasing strong cash flow.

Once seen as a one-dimensional mining town, Graham says Broken Hill’s economy is now supported by healthcare, tourism, and renewable energy.

Other locations on the list include Gawler and Port Lincoln in South Australia, Glenorchy in Tasmania, the City of Melbourne and the Wellington Shire in Victoria, Muswellbrook and Parramatta in New South Wales and Woden Valley in the ACT.