When I was searching for a place to stay for 6 weeks this was the second cheapest. The cheapest was literally a tent in somebody's back yard. For a tiny bit extra here you get a massive private space with everything you need. It's about a 10 minute walk from Gordon station, which is just 20 mins for the CBD.
The only negatives to mention (which in my opinion are nothing given the price) is that fittings are very old, and the celling is very low. I'm 6'4" and hit my head alot. A real bargain!