Australia's most popular retirement neighbourhoods

Australia's most popular retirement neighbourhoods

CoreLogic, property, neighbourhood, retirement news, Property Pulse, retirement planning, wealth management

A survey has uncovered the most popular Australian neighbourhoods for retirees and the average property value in each.

Analysing ABS data, property research company CoreLogic found the most popular area for retirees is Victoria’s Queenscliffe, with 40.3 per cent of dwellers being retirees over 65 years old.

Meanwhile, the area experiencing the largest house value growth was Quairading in Western Australia, with 28.2 per cent of over 65 retirees, which experienced a 21.5 per cent rise over the last year.

 

This was followed by a 15.3 per cent rise in Shoalhaven in NSW, with 25.4 per cent of over-65 retirees.

Meanwhile, areas that experienced the largest falls over the last year include Mount Remarkable in South Australia at 7.1 per cent and Flinders in Tasmania at 5.2 per cent.

Cameron Kusher, CoreLogic research analyst, pointed out that none of the areas are located in a capital city.

“In fact, if we list all councils nationally by their proportion of residents aged at least 65, the first capital city area listed is Holdfast Bay in Adelaide with 23.1 per cent  of its residents at least 65 years old,” Mr Kusher said.

“Council areas within NSW and South Australia also dominate the list with each of these states having 13 entries on the list.”

Mr Kusher also pointed out the top 50 areas typically have lower median house values when compared to their respective capital city.

“This could be due to retirees moving to areas where housing is more affordable in order to free-up capital for them to enjoy their retirement; it could also be out of necessity due to the high cost of housing within most capital cities,” he explained.

“The locations are also likely to be linked to lifestyle preferences, with a large number of the top council areas located in regional coastal areas.”

Looking at the value growth performance for houses across these top 50 regions, the data shows that generally the rate of growth has been lower than that of the larger capital cities. Thirty-one of the 50 council areas listed have seen house values rise over the past year.

The top 50 areas with the highest proportion of over-65 retirees are:

Area Percentage of over 65 Median house value Change over last year
Queenscliffe, Vic 40.3% $768,529 2.5%
Victor Harbor, SA 37.7% $371,204 4.2%
Barunga West, SA 32.9% $284,881 1.3%
Wyalkatchem, WA 31.5%    
Yorke Peninsula, SA 31.3% $254,347 -2.6%
Glamorgan-Spring Bay, Tas 31.0%    
Eurobodalla, NSW 29.4% $455,656 10.8%
Mid-Coast, NSW 29.0% $482,066 11.9%
Tasman, Tas 28.8% $252,200 3.7%
Quairading, WA 28.2% $210,196 21.5%
Yankalilla, SA 27.9% $372,094 1.5%
Berrigan, NSW 27.8% $220,269 1.6%
Tumby Bay, SA 27.8% $290,942 -2.0%
Alexandrina, SA 27.6% $359,181 2.6%
Weddin, NSW 27.5% $181,215 -0.9%
Central Goldfields, Vic 27.4% $207,531 -2.6%
Strathbogie, Vic 27.4% $279,912 2.8%
Break O'Day, Tas 27.4% $251,288 3.0%
Copper Coast, SA 27.3% $272,552 2.1%
Orroroo-Carrieton, SA 27.3%    
Buloke, Vic 27.2% $144,117 0.0%
East Gippsland, Vic 27.2% $304,595 3.1%
Federation, NSW 27.0%    
Yarriambiack, Vic 26.8% $120,470 -0.9%
Peterborough, SA 26.7% $113,535 2.2%
Bass Coast, Vic 26.7% $411,796 4.9%
Nambucca, NSW 26.6% $373,318 10.2%
Port Macquarie-Hastings, NSW 26.6% $535,874 9.8%
Kingston, SA 26.6% $271,676 2.0%
Gannawarra, Vic 26.4% $188,349 -0.6%
Hindmarsh, Vic 26.4% $128,254 4.1%
Hinchinbrook, Qld 26.3% $243,470 -4.2%
Murray River, NSW 26.3%    
Tenterfield, NSW 26.3% $229,083 0.8%
Wagin, WA 26.2% $195,227 -1.8%
Loddon, Vic 26.1% $191,199 8.1%
Beverley, WA 26.0% $259,340 -0.7%
Nannup, WA 26.0% $309,542 -0.5%
Franklin Harbour, SA 26.0% $261,921 5.2%
Gwydir, NSW 25.8% $203,193 2.9%
Mount Remarkable, SA 25.6% $182,953 -7.1%
Karoonda East Murray, SA 25.6% $150,430 -4.7%
Warrumbungle Shire, NSW 25.5% $195,423 0.9%
York, WA 25.5% $327,992 -1.7%
Shoalhaven, NSW 25.4% $529,762 15.3%
Fraser Coast, Qld 25.4% $314,133 2.4%
Flinders, Tas 25.3% $262,830 -5.2%
Brookton, WA 25.3% $207,300 9.5%
Towong, Vic 25.2% $221,856 0.6%
Glen Innes Severn, NSW 25.0% $213,610 1.8%
Australia's most popular retirement neighbourhoods
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