I am only new here but there are hostels like Annie's place and YMCA. I am not sure how good they are but accomodation here expensive & choices are limited especially from May through September as it is peak season.
If you stay longer term like 3 months then there are some good places like Railway terrace units from $310 per week.
If you have a caravan or tent caravan parks are best.
Have a great trip almost 6 years ago