6 Affordable Places to Retire in Australia

May 23, 2021

From the cool temperatures in Tasmania to the sunshine state of Queensland, we’ve compiled six desirable and affordable places to retire in Australia.

Perth, Western Australia

perth australia best place etire

If you’re looking for a slower pace, spectacular scenery and some of the best beaches in Australia, then Perth might be a good place to spend your retirement. Its property market is only just recovering after a long-winded downturn, so prices are much more affordable than other capital cities across the country.

According to CoreLogic’s latest data, the median property value in Perth is $445,614. Compare this to Sydney’s $882,849 and you can understand why Perth is such an attractive option. It’s only a stone’s throw away from the wine region of Margaret River and close to beautiful national parks.

Hobart, Tasmania

hobart city for retirees

It may not have the warm weather that Perth boasts but Hobart is renowned for its beautiful natural surroundings. Combine that with emerging arts, culture and cafe scenes and it makes for the perfect spot to spend your retirement. Despite the recent property boom, the median property value in Hobart is $483,032, well below the national average of $554,229 (CoreLogic).

You can also expect to get more bang for your buck than in other capital cities like Sydney and Melbourne. Battery Point and Sandy Bay are just a few desirable suburbs to consider looking at if you’re interested in retiring around Hobart.

Port Stephens, News South Wales

port stephens australia

An easy two and a half hour drive north of Sydney and less than an hour from Newcastle, Port Stephens is home to pristine beaches, sand dunes, nature walks and a range of first-class amenities. Once a sleepy sea-side town, Port Stephens is now a vibrant coastal destination with an array of leisure activities and dining options like Rick Stein’s Bannisters.

According to CoreLogic, the median house price in the area is $580,000, which is more affordable than Newcastle ($631,500).

Hervey Bay, Queensland

hervey bay retire

If you’re looking for warmer weather and crystal-clear waters, look no further than Hervey Bay. Known for its beautiful surroundings, the region is also incredibly affordable when it comes to property.

From a neat and tidy duplex to a classic Queenslander home, you can score a house for a median price of $348,000 and a unit for just $268,000 (PRD Nationwide report).

Victor Harbor, South Australia

According to CoreLogic’s Most Popular Regions to Retire report, South Australia is the most popular state for retirees with Victor Harbor being the number one destination. Of the population in Victor Harbor, 37.7 per cent are of retirement age. As for property, prices are incredibly affordable for both houses and units. The median price for a house is just $343,500, while you can purchase a unit for $250,000.

The area also has a number of attractions to enjoy. It’s near Granite Island, home to a wild penguin colony, and close to Goolwa, a gateway to the wetlands of the Murray River Mouth.

Southern Highlands, News South Wales 

southern highlands australia

The Southern Highlands has long been adored by those looking to escape the hustle and bustle of the city.  The region, one and a half hours south of Sydney, encompasses the likes of Bowral, Moss Vale, Berrima and Bundanoon. You’ll be spoiled for choice when it comes to award-winning dining and the area is home to more than 60 wineries and 17 cellar doors.

Property prices in the Southern Highlands are considerably higher than other places on this list but are reasonable when compared to Sydney.  While the main township of Bowral has property prices up around the million-dollar-mark, nearby Moss Vale has a median property price of $657,500 for houses and $499,500 for units (CoreLogic).

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