PHOTO: The Peterborough property at 118 Moscow St is on the market with a $138,000 asking price. Source: Supplied

Looking for a cheap home away from the hustle and bustle or a promising investment property? It’s worth considering these country towns.

Househunters struggling to get a foot on the property ladder or looking for a promising investment should consider buying in country towns.

Peterborough is the cheapest town in Australia for property, according to latest figures, with a median house price of $69,000.

It is about three hours from Adelaide and offers a range of character homes for a fraction of the cost of a house in the state’s capital, which has a median house price of $480,000.

Western Australia and Tasmania had two towns each on the list with five across Queensland, including Tara and Charleville, rounding out the top 10.

Chief economist at Nerida Conisbee said there were several factors that stopped people from moving to remote towns, but many might not be considered barriers in the wake of COVID-19.

The house at 
<a href="" target="_blank">36 Victoria St</a> is listed with a $125,000 price guide. Pic:

The house at 36 Victoria St is listed with a $125,000 price guide. Pic: Source: Supplied

“While they are incredibly affordable, it might be difficult to get a job if you were to move there,” she said.