Analysing Australian Bureau of Statistics (ABS) data, the property research company found the area with the highest proportion of older Australians was Queenscliffe in Victoria with 40.3% of residents over age 65.
South Australian suburbs Victor Harbor (37.7%) and Barunga West (32.9%) placed second and third.
Proving itself to be a home to many retirees, 13 suburbs from the top 50 list were in South Australia.
CoreLogic also looked at the house value growth of these top retirement regions.
Quairading in Western Australia experienced the biggest increase, with a 21.5% rise in house prices over the last 12 months.
This was followed by Shoalhaven in New South Wales, with a 15.3% increase.
Mount Remarkable in South Australia had the greatest fall in house value (-7.1%), with Flinders in Tasmania following close behind (-5.2%).
Cameron Kusher, Data Analyst at CoreLogic, said the most popular retiree neighbourhoods tend to have significantly lower median house values than their respective capital city housing markets.
“This may be due to retirees moving to areas where housing is more affordable in order to free-up capital for them to enjoy their retirement,” he said.
“It could also be out of necessity due to the high cost of housing within most capital cities.
“The locations are also likely to be linked to lifestyle preferences, with a large number of the top areas located in regional coastal areas.”
Retirement Suburbs House Price Growth, July 2017
| Region | State | Total Residents | % Over 65 | Median House Value | Growth Over 12 Months |
|---|---|---|---|---|---|
| Queenscliffe | Vic | 2,904 | 40.3% | $768,529 | 2.5% |
| Victor Harbor | SA | 15,075 | 37.7% | $371,204 | 4.2% |
| Barunga West | SA | 2,594 | 32.9% | $284,881 | 1.3% |
| Yorke Peninsula | SA | 11,278 | 31.3% | $254,347 | -2.6% |
| Eurobodalla | NSW | 37,968 | 29.4% | $455,656 | 10.8% |
| Mid-Coast | NSW | 91,958 | 29.0% | $482,066 | 11.9% |
| Tasman | Tas | 2,396 | 28.8% | $252,200 | 3.7% |
| Quairading | WA | 1,036 | 28.2% | $210,196 | 21.5% |
| Yankalilla | SA | 5,251 | 27.9% | $372,094 | 1.5% |
| Tumby Bay | SA | 2,676 | 27.8% | $290,942 | -2.0% |
| Buloke | Vic | 6,230 | 27.2% | $144,117 | 0.0% |
| Peterborough | SA | 1,705 | 26.7% | $113,535 | 2.2% |
| Port Macquarie-Hastings | NSW | 79,905 | 26.6% | $535,874 | 9.8% |
| Kingston | SA | 2,429 | 26.6% | $271,676 | 2.0% |
| Hinchinbrook | Qld | 10,990 | 26.4% | $243,270 | -4.2% |
| Beverly | WA | 1,748 | 26.0% | $259,340 | 8.1% |
| Franklin Harbour | SA | 1,329 | 26.0% | $261,921 | 5.2% |
| Mount Remarkable | SA | 2,911 | 25.6% | $182,953 | -7.1% |
| Warrumbungle Shire | NSW | 9,541 | 25.5% | $195,423 | -4.7% |
| Shoalhaven | NSW | 101,777 | 25.4% | $529,762 | 15.3% |
| Fraser Coast | Qld | 102,953 | 25.4% | $314,133 | 2.4% |
| Flinders | Tas | 926 | 25.3% | $262,830 | -5.2% |
| Towong | Vic | 5,973 | 25.2% | $221,856 | 0.6% |
Source: CoreLogic via Australian Bureau of Statistics.
Share this article