The latest Australian Bureau of Statistics (ABS) figures from CoreLogic have revealed the council areas that are home to the highest number of over-65 residents – and not one is in a capital city.
Topping the list was Queenscliff in Victoria with just over 40 per cent of its 3,000 residents aged over 65 years.
South Australia’s Victor Harbor (37.7%) and Barunga West (32.9%) came in second and third.
The data undermines the media’s much-hyped stories about our Baby Boomers sitting in their big empty houses in our cities.
And the attraction? CoreLogic’s Cameron Kusher points out that all of these areas have much lower house prices than our capitals.
It makes sense. Moving to a more affordable area offers the chance to free up more capital to enjoy your retirement and escape the higher costs of big city living.
There’s also the lifestyle factor. Many of these locations are in regional coastal areas that provide a beachside lifestyle – without the expensive price tag.
Affordability a key factor
And where can these retirees move to? Retirement villages and Land Lease Communities are the obvious choice.
The average village unit costs 67 per cent of the median house price – that’s an average of $267,000 across Australia.
Moving to a village also cuts down on many of the costs of downsizing. You don’t pay stamp duty on your new residence. Most retirees also move to a community within 10km of their family home, reducing moving costs.
There’s also no shortage of villages in the top-rated areas. Villages.com.au lists five retirement villages in Queenscliff, while Victor Harbor has 10 and the Yorke Peninsula has an impressive 21.
Time for a sea change?
