6 Affordable Places to Retire in Australia

May 23, 2021
most affordable places to retire

Living in Australia, we’re always on the lookout for more opportunities to enjoy nature’s bounty, and what better time than retirement? From the lovely Tasmanian climate to Queensland’s endless days of sunshine, we’ve rounded up 6 awesome and affordable places to retire in Australia.

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Perth, Western Australia

perth australia best place etire

If you want to slow down to enjoy gorgeous landscapes and some of the nicest shorelines in the country, then Perth might be a good city to retire in. Perth’s property market experienced a downturn a few years back and is on the mend, so in comparison to other capital cities, the prices here are much more affordable.

The median property value in Perth is $552,128, according to CoreLogic’s latest data. When you look at Sydney’s median value, sitting at $1,120,836, it’s evident why many are choosing Perth instead. Not only are you in a capital city, you’re also a short drive away from the gorgeous vineyards of Margaret River as well as some of the best national parks.

Hobart, Tasmania

hobart city for retirees

While Hobart’s temperatures may be a little lower than those in Perth, the city and its surroundings are known for their stunning nature. That, combined with its emerging arts scene and blossoming food and cafe atmosphere, you’ve got one of the most liveable cities in Australia.

The median property price is currently $738,399, meaning you’re getting more bang for buck compared to Sydney and Melbourne. Many are flocking to the desirable suburbs of Battery Point and Sandy Bay for their community and accessibility.

Port Stephens, News South Wales

port stephens australia

A quick 2.5 hour drive north of Sydney and less than an hour from Newcastle, Port Stephens boasts beautiful beaches, sand dunes, nature trails and an array of the best amenities. Once a simple seaside town, Port Stephens has become n energetic coastal destination with a range of leisure activities and dining options like The Little Nel and Little Beach Boathouse.

The median house price in the area is $880,000, which makes it more affordable than Newcastle’s $910,000.

Hervey Bay, Queensland

hervey bay retire

If you’re looking for toastier weather and azure waters, you can call off the search with Hervey Bay. Notorious for its lovely, peaceful surroundings, Hervey Bay is also very affordable when it comes to retiring.

From a cosy duplex to a spacious Queenslander home, you can buy yourself a house for a median price of $420,000 or an apartment for just $317,000 (PRD Nationwide report).

Victor Harbor, South Australia

When CoreLogic released a ‘Most Popular Regions to Retire’ report, South Australia was listed as one of the most popular states for retirees. And Victor Harbor took first place as the most desirable destination.

37.7% of Victor Harbor’s population are of retirement age. As for property, prices are incredibly affordable for both houses and units. The median price for a house is just $487,500, while you can purchase a unit for $370,000.

Some of the city’s most sought-after attractions are the wild penguin colony near Granite Island, as well as the wetlands of Murray River Mouth, which you’ll find near Goolwa.

Southern Highlands, News South Wales 

southern highlands australia

One of the many reasons people flock to the Southern Highlands is to get away from the people traffic in the cities. This region, nested 1.5 hours south of Sydney, includes the towns of BowralMoss Vale, Berrima and Bundanoon.

This area is also home to award-winning restaurants, over 60 wineries and 17 cellar doors.

When it comes to the median property price, the Southern Highlands is a little pricier. Bowral, for one, has a median house price of $1.6 million and a unit price of $885,000. Still, we find it reasonable compared to the likes of Sydney.

You can also look at the neighbouring Moss Vale which has a lower median house price of $1.07 million.

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