2 MIN READHow Australia’s rental market fared at end FY22
The nation is in the grips of a severe rental crisis, with vacancy rates and supply falling sharply while rents go the o...
Read More
The top 7 retirement hotspots
By Lucy Dean
28 March 2018
|
1 minute read
SHARE 
Knowing which areas attract certain demographics can be vital to renting out or when it’s time to finally sell a property. According to a property research firm, these are the top hotspots for retirees.
RiskWise Property Research has revealed the seven hottest regions for retirees in terms of lifestyle, value for money and capital growth potential.
“The decision where to retire is a big one and definitely requires careful consideration,” RiskWise CEO Doron Peleg said.
“Typically, the top three factors in retirees’ decisions are the area must suit their (new) lifestyle and passions, it must be affordable for them and it also needs to deliver long-term capital growth, so they’ll be able to leave something for the children.”
With these specifications in mind, RiskWise identified these as the top seven areas for retirees looking to buy a house.
1. SunshineSunshine, NSW Sunshine, VIC Coast, Queensland
With an idyllic climate, this spot 100 kilometres from Brisbane means retirees have both the calm of regional living, while being an hour’s drive of the city, RiskWise said.
While properties in Noosa tend to be around $1 million, neighbouring suburbs like Kenilworth, Eumundi and Peregian BeachPeregian Beach, QLD Peregian Beach, QLD Peregian Beach, QLD Peregian Beach, QLD have more accessible prices.
Peregian Beach and Coolum BeachCoolum Beach, QLD Coolum Beach, QLD have particularly solid capital growth, with median prices of $764,000 and $638,000 respectively.
2. Gold Coast, Queensland
Once nicknamed God’s Waiting Room, the Gold Coast is also an hour’s drive from Brisbane and is the sixth largest Australian city.
RiskWise said this city appeals to retirees interested in enjoying its natural beauty and cultural pursuits, while connecting with like-minded retirees.
The Gold Coast has a stable market that offers “relatively affordable” beachside suburbs, like Miami, which has an average house price of $749,000 and provides solid long-term capital growth.
3. Central Coast, New South Wales
With reasonable access to Sydney, but a more affordable price point, the Central Coast also offers coastline, beaches, national parks and waterfalls.
This region is home to suburbs like North Avoca, Terrigal and Wamberal, which are all likely to have solid long-term capital growth, with price points on $1 million, $919,000 and $994,000, respectively.
4. MorningtonMornington, VIC Mornington, QLD Mornington, TAS Peninsula, Victoria
A solid property market with median house prices of $742,000 means this popular tourist destination is also high on the list for retirees.
Houses in the Mornington Peninsula have seen capital growth of 48 per cent in the last five years.
The region is home to wineries, national parks, golf courses and beaches.
5. Byron Bay, New South Wales
The town once eponymous with “hippy” is now also a retirement hot spot.
With capital growth of 90 per cent over the past five years, Byron Bay is a destination for “cashed-up buyers who love true beachside living”, RiskWise said.
The median house price in Byron Bay is $1.37 million – so requires strong equity, the property research firm noted.
Nevertheless, it is a charming place for retirement, they added, noting that it’s hippy roots are transforming into a more mature town with plenty to offer retirees.
6. Hobart, Tasmania
Despite a colder climate, the historic city is a popular retiree destination. Known for its arts and culture scene, it’s also home to the scenery of Mount Wellington and the Derwent River.
Hobart has a median house price of $402,000 as well as strong capital growth and positive long-term outlook.
The added bonus is that its affordability means many suburbs are less than two kilometres away from the CBD, like North Hobart and South Hobart, with median prices of $582,000 and $631,000 respectively.
7. Hunter Valley, New South Wales
For the wine lovers, this region 120 kilometres north of Sydney is also growing in appeal for retirees.
It offers a diversity of price points, from $400,000 to multimillion-dollar properties, with many suburbs enjoying relatively strong capital growth recently, RiskWise said.
The firm pointed to Louth Park, which has a median house price of $889,000 and solid capital growth in recent years.
Breaking down the numbers
Ranking the data by the long-term five year capital growth prospects, the best retirement hotspots are:
| Rank | Suburb | Median house price | Five-year capital growth (%) | One-year capital growth (%) |
| 1 | Byron Bay, NSW | $1,374,998 | 91 | 26 |
| 2 | Wamberal, NSW | $994,196 | 81 | 19 |
| 3 | Terrigal, NSW | $919,486 | 62 | 15 |
| 4 | North Hobart, TAS | $582,143 | 56 | 32 |
| 5 | North Avoca, NSW | $1,001,884 | 56 | 14 |
| 6 | Miami, QLD | $749,117 | 55 | 9 |
| 7 | Mornington, VIC | $771,233 | 51 | 14 |
| 8 | South Hobart, TAS | $631,569 | 46 | 21 |
| 9 | Coolum Beach, QLD | $638,692 | 46 | 14 |
| 10 | Peregian, QLD | $764,272 | 30 | 6 |
| 11 | Louth Park, NSW | $889,492 | 29 | 7 |
Reflecting on the findings, Mr Peleg said, “Each and every one of these areas delivered solid capital growth in recent years – some, obviously, better than the others – and they are also projected to deliver that in the long-term.
“Each retiree must make their own decisions based on personal preference and budget.”
RELATED TERMS
Capital
Capital refers to the financial resources that are available to be used for income generation.
House
A house refers to a building or property used as living quarters or an individual’s place of permanent or temporary residence.
House
A house refers to a building or property used as living quarters or an individual’s place of permanent or temporary residence.
Tags:
SHARE 
Related articles
Website Notifications
Get notifications in real-time for staying up to date with content that matters to you.
EXPLORE MORE RESOURCES
RELATED EVENTS AND SUMMITS
- Australian Law Awards
- Corporate Counsel Summit & Awards
- Boutique Law Summit
- Lawyers Weekly 30 Under 30 Awards
- Partner of the Year Awards
- Women in Law Awards
- Better Business Summit & Awards
- Australian Broking Awards
- Business Accelerator Program
- New Broker Academy
- SME Broker Bootcamp
- Australian Accounting Awards
- Accountants Daily Business Strategy Day
- Accountants Daily 30 Under 30 Awards
- SMSF Summit
- ifa Business Strategy Day
- ifa Client Experience Workshop
USEFUL LINKS
Copyright © 2021 Smart Property Investment