Cheapest Cities to Retire in Australia

Chelsea Dolan

Published on October 8, 2021

Australia is a desirable place to settle down once you’re retired. With close to 26 million people and a 2,500-mile (4,023-kilometers) stretch of land from west to east, there’s no shortage of places to live and communities to become a part of. The country is part of the British Commonwealth and is known for its stunning beaches, lively cities, sprawling deserts, and more nature-filled wonders.

Seniors can choose a city for retirement depending on their desired lifestyle. Whether you want to live secluded in the country, in a metropolitan city, or on the gorgeous coastline, Australia has something for everyone no matter what their budget is.

Here’s a rundown on some of the cheapest cities to retire in Australia and what they each have to offer.

Victor Harbor, South Australia

Located just 50-miles (80-kilometers) south of Adelaide is Victor Harbor. This sunny community attracts both tourists and retirees alike thanks to its stunning beaches, nearby penguin colonies, and slower pace of life compared to major cities.

Soho reports that nearly 40-percent of its population are retirees, likely due to its affordable housing. The median house price is $343,500 and units available to own for $250,000.

Sunshine Coast, Queensland

The Sunshine Coast is a coastal stretch of land in Queensland that spans from Caloundra to the Great Sandy National Park. This vibrant destination provides you with everything from pristine beaches and rainforests to national parks and much more. There’s plenty of historic villages to permanently reside in as well.

Buying property can be pricer compared to other cities with prices starting in the $500,000s. But there are plenty of rentals available and retirement villages to live in too.

Hunter Valley, New South Wales

Plant your roots in Australia’s oldest wine-growing region known as Hunter Valley. There are plenty of amenities for retirees to enjoy. It has over 150 cellar doors to explore, which is perfect for seniors looking to sip on wine throughout retirement.

Since Hunter Valley is just a two-hour drive away from Sydney, seniors can find housing for a lot cheaper compared to this major city. The convenient short drive allows you to enjoy both areas at a lower overall cost of living.

Perth, Western Australia

If you’re a lover of sunshine, then you’ll want to retire on the west side of Australia in Perth. The booming city has the highest average of sunshine with 8.8 hours daily. You can enjoy all the perks of an Aussie lifestyle that include plenty of beaches, culture, and laidback city living.

Although Perth isn’t the cheapest place in Australia, it’s still on the more affordable end of the spectrum, especially compared to other major cities. Soho says the median property value is $445,613, which is about half of what properties are priced at in Sydney.

Southern Highlands, New South Wales

Those seeking a slower retirement will enjoy living in the rural region of Southern Highlands. The area comprises towns such as Bowral, Moss Vale, Berrima, and Bundanoon. The area also boasts more than 60 wineries and 17 cellar doors.

For folks who hate humidity, they can expect next to zero humidity compared to Sydney which isn’t too far away. Real estate is a lot cheaper compared to the country’s capital. For instance, Moss Vale has a median property price of $657,500 and units for $499,500.

Huon Valley, Tasmania

Seniors wanting to retire in natural and open spaces will love Tasmania. Specifically, in the Huon Valley. This area comprises seven townships that provide a quiet, small-town living for retirees. Fill your days with visits to the Tahune Airwalk, visiting local pubs, sipping on cider, and other popular attractions in the area.

With so many places to live within Huon Valley, real estate prices can range. You can purchase a unit in Huonville for a median price of $370,000 or a home for $520,760.

Hervey Bay, Queensland

Located three and a half hours north of Brisbane is Hervey Bay. This area is a natural bay between Australia’s mainland and Fraser Island. Retirees can bask in the sun on golden beaches, go on whale-watching excursions, and enjoy everything else the family-friendly town has to offer.

If affordable housing is a priority, then Hervey Bay is an excellent choice. Seniors can enjoy the beaches at a fraction of the price compared to other Queensland areas. You can invest in a house for $348,000 or a unit for just $268,000.

Hobart, Tasmania

Escape to the mountains for retirement in Hobart, Tasmania. The state’s capital city is the ultimate spot for seniors wanting to live an active lifestyle. They can walk or drive up to Mount Wellington, get up close and personal with wildlife, visit World Heritage sites, and lots more.

Homes in Hobart are moderately priced in comparison to other Australian cities. The median property value falls well under the country’s national average of $554,229 clocking in at just $483,032.

Adelaide, South Australia

Seniors wanting to strike a balance between city and beach life can find that in Adelaide. The vibrant city is the place to be when it comes to art, culture, and entertainment. You’ll never run out of things to do and can easily escape the city by heading to wineries that border the region.

You can save money by choosing a home in the suburbs instead of the Adelaide city center. Rather than pay $540,000 in the city, homes in the non-metropolitan area can be purchased in the mid-to-high $200,000s.

Yankalilla, South Australia

There’s a lot to like about Yankalilla, South Australia. The western city is surrounded by nature, located near Adelaide, and is a drive away from picturesque beach towns.

The affordability of this area is tough to beat. Seniors can pay a median price of $240,000 for a home. Living here allows you to live day to day in a smaller and quiet town, without being too far from the city.

Canberra, Australian Capital Territory

With less than 400,000 residents and lots of outdoor activities to take part in, Canberra is a worthwhile choice for settling down. It has some of the lowest crime rates in Australia, a cheaper cost of living overall, and is a family town that everyone can enjoy.

Canberra also happens to have some of the cheapest real estates in Australia. MoveHub says the average house price is under $100,000. You can save tons of money on real estate here and have extra money to use through retirement.

Esperance, Western Australia

Take in the natural beauty Australia has to offer in Esperance. This town is far from major cities but has its own airport for quick travel to cities like Perth. It offers a picturesque coastline, white sand beaches, and lots of Aussie charm.

Esperance also happens to have affordable housing that’s below the national median. You could buy a house for $370,000 or a unit for around $267,000.

Chelsea Dolan

Chelsea is an experienced writer with a passion for living a healthy life. She does her best at balancing her sugar addiction by going to the gym, parking far away from store entrances, and standing at her work desk from time to time.