Should you buy these 5 cheap looking stocks?

Take advantage of a 5% fall in the ASX 200 by checking out some famous names entering bargain territory.

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The Australian share market has crashed back to earth after a promising start to the 2015 financial year. Over the last month the S&P/ASX 200 (INDEXASX: XJO) and ALL ORDINARIES (INDEXASX: XAO) indices have crashed by 5% to give up almost all their 2014 gains. However this presents investors with an opportunity to jump in.

Opportunities

The 5% fall is just what many investors have been waiting for; an opportunity to buy the best growth companies at discounted prices. Here are five top growth stocks that are cheaper now than they were last month.

Oil Search Limited (ASX: OSH) shares have fallen 4.5% over the last month even though analysts expect the group to double profits within three years as new projects come on line.

Realestate.com.au website operator REA Group Limited (ASX: REA) has seen 9% wiped off its market value over the last month for no particular reason. There are some concerns that the company may struggle to grow as much as desired, however I believe its dominance in the local market will help it successfully sell new products.

The owner of seek.com.au has fared much better. Shares in SEEK Limited (ASX: SEK) have fallen just 2% over the same period. This is likely due to the company's exposure to Asia and greater investor confidence. The shares remain the same price as six months ago so now could be a great time to jump in.

Australia's favourite paint and renovation product company DuluxGroup Limited (ASX: DLX) has also fallen 2% over the last month. However, investors believe earnings are set to grow strongly as more Australians opt to upgrade or renovate their properties. Rising house prices and a falling Australian dollar will continue to be tailwinds for the company.

Casino and resort owner Crown Resorts Limited (ASX: CWN) has fallen 13% to be at its lowest price in more than a year. The group has an exceptional growth pipeline that long-term investors will love.

Motley Fool contributor Andrew Mudie does not own shares in any companies mentioned. You can find Andrew on Twitter @andrewmudie

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