There are many places across Australia worth investing in – but only a few that are the best for future retirees.
Residential property experts Rethink Residential has given their four best investment spots for retirees, spread across four of the country’s major states.
Director of Rethink Residential, Mina O’Neill, said affordability was one of the biggest considerations to make with any investment – especially for homes you would use in your later years.
“Make sure that you’ve got your budgets in check,” she said. “Make sure you look at all your budgets … that you’re not left out of pocket for certain things.”
Other metrics Rethink Residential used included location and age demographics, proximity to amenities and healthcare, community activities and climate.
With these considerations in mind, here are four of Australia’s best retiree investment locales:
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72 Major Innes Rd, up for sale in Port Macquarie. Its temperate location and wide variety of facilities make it a prime pick for older residents.
Port Macquarie, NSW
According to Ms O’Neill, the popular beachside spot in New South Wales is a temperate spot for both growing families and retirees, with amenities to fit both.
“It’s a really great location for all ages,” she said, “and Port Macquarie has actually got quite a lot of development. A lot of new health care facilities have been built there. It’s very directed at the retiree community.”
But it’s not just its health and transport facilities – the community of Port Macquarie also enjoys clubs and activities catered towards the elderly, along with a beautiful beach setting in a relatively mild climate.
“[It’s] an affordable lifestyle as well, with really nice weather – so it’s not too hot, not too cold,” Ms O’Neill said.
17 Flame Tree Gr, up for sale in Mornington. The Mornington Peninsula offers an enviable view while still being close to Melbourne’s amenities.
Mornington Peninsula, VIC
Another area near the coast, the Mornington Peninsula is a relaxing spot in a picturesque location, while still being accessible to Melbourne itself.
“You’ve got that beautiful coastal lifestyle, but you’ve also still got that ability to not be too far from a city centre, in case you do need to drive,” Ms O’Neill said.
Ms O’Neill also mentioned key features like Melbourne’s public transport, the nearby healthcare facilities, and the thriving culinary market along the Mornington Peninsula’s coastline.
“The coastline’s beautiful – it’s tranquil, which is something a lot of retirees would like to enjoy,” she said. “You’ve been in the hustle and bustle, when you think about it, for so many years … and now it’s time to give back to yourself.”
The area also has a wide selection of housing options for the older generations, such as cottages or retirement villages to fit their specific needs.
19 Kirkby Cct, for sale in Wellard. Location is important for retirees, and Wellard offers a growing market that’s still able to access public transport.
Wellard, WA
When it comes to Western Australia, the best retiree areas are all about location.
Wellard is up there when it comes to accessibility, right next to transport links such as the rail line and freeway.
“It’s a growing suburb; it’s only 30 minutes south of Perth, which is fantastic,” Ms O’Neill said. “The transport is easy, you have that option – you’re not stuck.”
While each of these four locations share many common traits, with healthcare facilities being the most prevalent, Wellard is unique in that its status as a still-growing city means house prices are competitive.
“Strong future growth as well – [there’s] potential there,” Ms O’Neill said.
The median house price for the suburb is still in the $650,000 range, giving new investors and homeowners the opportunity to get in on a still available market.
18 Booker Pde, for sale in Golden Beach. This suburb offers what you can get from other beachside areas for a cheaper price.
Golden Beach, QLD
While Queensland has plenty of seaside options for future retirees, some of them are far more affordable than others.
Golden Beach is one of those more accessible areas when it comes to price, while still offering the kind of amenities you might get in the nearby Noosa area.
“It’s an affordable and attractive option for the Sunshine Coast,” Ms O’Neill said. “A very desirable location – and once again, the climate there is quite nice.”
58 per cent of the population is over 50 years of age, meaning the community has a high concentration of retirees.
Meanwhile, the area continues to grow, with a $20 billion investment going into the greater region’s infrastructure.
“There are a lot of new things coming up to be a part of in the community,” Ms O’Neill said.
