I lived at Collingwood Backpackers for 6 months. It's a place you never want to leave. I've stayed in a lot of hostels and none felt like home as this one does. It's hard to explain but it feels like a house and not a hostel. There's nobody on reception telling you to keep it down and you're largely all left to look after the place yourselves which leads to forming of close friendships. Stay here. If you can cope with a building that's seen its best day a long time ago and an environment that can at times not be the cleanest you will have the best time here