CoreLogic research has revealed the top 20 hot spots for retirees in Queensland.
THE most popular council areas for over-65s to retire in Queensland have been revealed — and almost all are in regional coastal areas.
Analysing ABS data, property research company CoreLogic has found retirees are shunning the ‘big smoke’ in favour of a quiet coastal lifestyle in the state’s regions.
Thirteen Queensland councils have more than 20 per cent of their population aged 65 or over, and all of them are outside major metropolitan centres.
Of the top 10 most popular places to retire in the state, half are in the Wide Bay-Burnett region.
Topping the list is Hinchinbrook, about an hour’s drive north of Townsville.
Cardwell Jetty and Hinchinbrook Island. The Hinchinbrook region is the most popular among retirees in Queensland. Picture: Lillian Altman.
More than a quarter (26.3 per cent) of residents in the region are retirees over the age of 65.
The Fraser Coast region is the next most popular among retirees, with 25.4 per cent of its 102,953 residents aged 65 or over.
“The Fraser Coast has been a retirement hotspot for some time, even though only a quarter of the population is over 65,” CoreLogic research analyst Cameron Kusher said.
Urangan Pier at Hervey Bay on the Fraser Coast. Photo: Lachie Millard.
Noosa came a close third, with more than 23 per cent of its residents retired and over the age of 65.
Of the top 20 council areas with the highest number of retirees over 65, Scenic Rim experienced the biggest growth in house values in the past 12 months, with its median house price rising 21.5 per cent.
Not surprisingly, Noosa has seen the highest house price growth in the past five years of nearly 30 per cent, and it has the most expensive median house price on the list of $647,657.
It’s also the third most popular spot for retirees over the age of 65 in the state, with 23.3 per cent of them living in the affluent coastal hotspot.
“I think most people would love to live in Noosa, but it’s only when you’re old and wealthy that you can afford to do it!” Mr Kusher said.
View over Noosa Main Beach and Noosa Sound. Photo: Lachie Millard.
Mr Kusher pointed out that none of the areas were located in Brisbane.
He said the top 20 areas typically had lower median house values when compared to Brisbane.
Looking at the value growth performance for houses across the top 20 regions, the data shows that generally the rate of growth has been lower than that of Brisbane.
Only eleven of the 20 council areas listed have seen house values rise over the past year.
“Housing’s a lot more affordable in these areas than the capital city,” Mr Kusher said.
“People can sell out of a nearby large city and live mortgage free in these areas.”
A large number of over-65s are choosing to retire in rural areas of Queensland.
Mr Kusher said there was also a trend among retirees who had lived in the same area all their lives choosing to stay there, particularly in more rural, agricultural areas like Hinchinbrook and North Burnett and South Burnett.
“These are also areas that don’t have a lot on offer for younger people, so you probably see more of the younger population leaving, whereas the older people who’ve lived there for many years, in a lot of instances, end up staying in the regions,” he said.
Mr Kusher said the rise of flexible working arrangements could result in more people moving to the regions to live and retire, particularly coastal and tree change areas that were significantly cheaper than the capital cities.
“I think these areas will grow in popularity,” he said.
Nationally, Queenscliffe in Victoria was the council region with the highest proportion of retirees, with almost half of its residents aged over 65.
The only two Queensland regions to make the national list of top 50 most popular spots for retirees were Hinchinbrook and Fraser Coast.
Mr Kusher said that wasn’t too surprising
“Areas that many people think of as retirement hotspots such as the Gold and Sunshine Coasts, Cairns and the Surf Coast of Vic do not appear on the list, indicating that these areas have become much more than just locations for retirees,” he said.
