7 of the best places to retire to in Australia

When you retire, you likely want to make the most of your newfound free time.

Part of this is living in a location that enables you to lead your best life, which may entail downsizing to free up your finances, or making a seachange. If you’re planning the latter, it could help to know areas in Australia that have features that can support your retirement goals.

To identify some of these locations, we spoke to Director of Atlas Property Group, Lachlan Vidler. He considered the current value of property in the area, affordability, future potential of the locations, demographics (particularly people of a similar age and lifestyle), transportation links, proximity to amenities such as medical services, and the availability of events and activities to do. His top picks, in no particular order, were:

• Mornington Peninsula, Victoria
• Shoalhaven region, New South Wales
• St Helens, Tasmania
• Sunshine Coast, Queensland
• Beechworth, Victoria
• Esperance, Western Australia
• Victor Harbor, South Australia

Here Mr Vidler breaks down why these were his top selections for retirees. Keep in mind the prices provided below are based on data from CoreLogic, realestate.com.au and wider industry sources as analysed by Mr Vidler.  Retirement living housing might be much cheaper across all of these locations, depending on your age and personal requirements. If you are considering purchasing in any of the below regions, it is a good idea to do your own research, including on current prices, and consider speaking with a local property expert or financial adviser.

Mornington Peninsula, Victoria

“The Mornington Peninsula is located just south of Melbourne on the south and south-eastern side of Port Phillip Bay and has become an ideal retirement location, not in the least because of its spectacular water views along the bayfront.

One of the big drawcards of the Mornington Peninsula is its close proximity to Melbourne, which is only 60 minutes drive from the CBD. You can access Melbourne via the Peninsula Link Freeway, or alternatively there is public transport. The peninsula has always experienced strong tourism thanks to its scenic beaches, sprawling nature reserves, and over 50 wineries.

The Mornington Peninsula area experienced a strong population growth in recent years.  Don’t worry about making friends either – around 45% of the population is aged 50 or over according to Australian Bureau of Statistics data, so you’ll likely have plenty of neighbours to hang out with if you’re a retiree.

Some of the suburbs in the peninsula may sound familiar, including Mornington, Mount Eliza, Hastings and Crib Point. The median price of a property is not cheap – the average price for units is $730,000, and houses $1.1 million as of December 2021, according to realestate.com.au, with the latest Domain House Price Report showing ten of the top 20 Melbourne suburbs with the highest annual growth were on the Mornington Peninsula. While this could mean it’s expensive to buy here as a retiree, it could also suggest this area shows good promise for further long-term growth.”

Shoalhaven region, New South Wales

“The Shoalhaven region is located on the south coast of New South Wales and is around two hours drive by car from Sydney and Canberra. The region begins just south of Kiama and stretches as far down as Ulladulla and Bawley Point.

The Shoalhaven region is perfect for those retirees who are looking to slow down and spend their time near the water and national parks. Nowra is one of the largest cities in the region and has all of the amenities that you could desire in retirement – medical facilities, shopping, eateries and some golf courses. The Shoalhaven region has become a fast favourite of those retiring with 26.4% of the population aged 65 or over. This is more than 5% above the regional NSW average of 20.6%, according to .id, a demographic website.

Thanks to its idyllic climate nestled on the south coast, the Shoalhaven region has a number of fantastic towns and cities for those looking to retire. Some of the hotspots include Huskisson, Callala Beach, St Georges Basin and Mollymook. Prices vary throughout the region, but you can expect to be paying from $740,000 through to over $1.2 million, according to CoreLogic.”

St Helens, Tasmania

“If you’re looking for a more secluded spot for retirement, then maybe St Helens in Tasmania is just your cup of tea. St Helens is located on the edge of the world-renowned Bay of Fires, known for its white sand and orange granite rocks, and is a secluded oasis about 160 kilometres east of Launceston.

While the population may only be a few thousand, there is no doubt that it is a hotspot for retirees. At the last census, 58% of St Helens residents were aged 50 or over, and this shows no signs of slowing.

The township of St Helens has its own hospital, supermarkets, bars and restaurants, and is renowned for its oysters. If fishing is a hobby, St Helens is also known as the game fishing capital of Tasmania. With a mild climate for most of the year, St Helens is a nice retirement spot to experience all the seasons throughout the year.

Properties are much cheaper than some of the other locations in this list. Median prices have just grown by 25% in the last 12 months but still sit at a moderate $450,000 – perfect for retiring on a budget. However, prices have risen by over 120% in the past 10 years. Who said you can’t keep growing your wealth in retirement?!”

Sunshine Coast, Queensland

“The sunny Sunshine Coast is nestled a little over an hour north of Brisbane and provides a great retirement location in Queensland. The Sunshine Coast embodies everything about a Queensland retirement – beaches, cafes, year-round good weather and proximity to a big city.

More than one-quarter (26.7%) of residents living on the Sunshine Coast are aged 60 years and over, according to .id figures. The region is undergoing development, with major existing facilities such as the Sunshine Coast University Hospital, Sunshine Coast Airport and Sunshine Coast Stadium, and a proposed Sunshine Coast light rail to link extra suburbs in the region.

Maroochydore is the central city in the area, but other notable locations for retirees include Caloundra, Mooloolaba and Noosa. While most retirees would typically choose to live outside of Maroochydore, property prices have gone up over the last 18 months. The median price of  property in Caloundra is $845,000, with Noosa’s median house price being a whopping $1.8 million.”

Beechworth, Victoria

“If country living is on the agenda, Beechworth might be your ideal destination. Beechworth is located in country Victoria and is just over 30 minutes south of Albury Wodonga.

Beechworth was once a thriving gold rush town and many of its historical buildings are still standing (and operating) today. With a historical prison that once held supporters of Ned Kelly, along with shops like the famous Beechworth Bakery and a local brewery, there are plenty of things to do while you enjoy your country retirement. If you do want to venture further afield, you can find Wangaratta 30 minutes to your west and Myrtleford only 20 minutes to your south.

While the unassuming country façade might make you think that properties will be cheaper, you would be mistaken. Homes around Beechworth are currently selling in the high $600,000s and low $700,000s and this demand is showing no signs of easing. With homes selling in only 22 days, it’s no surprise that the 49% 50 or above population is driving this property market.”

Esperance, Western Australia

“Imagine being able to escape the hustle and bustle of the city and sit back on beautiful white sand beaches with national parks a stone’s throw from your house. This is the type of situation that awaits those people who are looking to settle down in Western Australia and find themselves setting up in the town of Esperance.

Esperance is located approximately nine hours drive south-east of Perth, but the Esperance Airport has daily flights to and from Perth.

The city has established itself as a hotspot for tourism thanks to its incredible beaches, multiple national parks, and large fishing industry. When you move to Esperance, you can expect to be seeing plenty of mature-aged people, thanks to about 37% of the population being 50 or over, according to the Census.

However, historically speaking, wealth through property has not been strong in this area longer-term, with much lower capital gains for housing than in some other retirement hotspots. The median house price hovers in the low to mid $300,000s, and the market hasn’t seen any growth over the past 10 years.”

Victor Harbor, South Australia

“Victor Harbor is an idyllic coastal town just over an hour south of Adelaide on the Fleurieu Peninsula. It has become a favourite retirement location thanks to its proximity to Adelaide combined with its beautiful coastal scenery. It’s also popular due to its much milder climate, typically attributed to the wonderful sea breeze that runs through the city in summertime.

Victor Harbor is home to one of the largest populations aged 50 or older in the country with about 60% of the population in this age group according to the Census.

It has also become a tourist attraction of sorts, partly due to its connection with Granite Island, which has one of the last remaining horse-drawn tram routes in the world. Other activities include whale watching, fishing, wildlife parks, and exceptional day drives into nearby towns and national parks.

Victor Harbor can be an affordable place to purchase your retirement property. The median price of property is just under $500,000 but has seen solid growth over the long-term. Houses closer to the coastline might be perfect for those people who aren’t fond of hot summers and like to enjoy a cooling sea breeze.”

Cover image source: Greg Brave/Shutterstock.com.