If retirement is just around the corner or still a few years away, you may be wondering about retirement investment.
Whether you’re looking to buy and rent as an investment property until you’re ready to put down tools, or thinking of winding down to set up that part-time consultancy you’ve always dreamed of, there are plenty of idyllic locations for investors to choose from.
We’ve searched the country and come up with ten of the best retirement hotspots for your next property investment.
Buying an Investment Property?
Download our 15+ page guide today!
But if you travel slightly further afield, there is plenty of reasonably priced property and a more relaxed lifestyle.
Median house price: $460,000
Echuca, right on the New South Wales border, has fast become a popular retirement investment option.
No longer a sleepy town nestled on the banks of the Murray, Echuca has come of age for its art scene, gourmet eateries and local vineyards and distilleries, all steeped in Paddlesteamer history.
Surrounded by wildlife areas and kilometers of river banks, there’s plenty of spots to throw in a line or indulge in some water sports, or simply enjoy a bushwalk.
For a broader choice of shopping, entertainment and medical care, Bendigo and Shepparton are just over an hour drive away.
Media house price: $655,000
Known by antique-hunters nationwide, Castlemaine has carved out a niche of Metropolitan chic, without the noise and fumes. A great retirement investment option.
Art, clothing boutiques and fine food are all on the menu, and the historic Theatre Royal screens the latest and art-house movies. The central Botanic Gardens is a calm oasis, while the surrounding Castlemaine Diggings National Heritage Park is home to rare and threatened flora and fauna and goldrush-era relics.
For a little more peace and quiet, the smaller population centres of Maldon, Campbells Creek, Muckleford and Chewton are set in bushland, a few minutes out of town.
Locals tend to head to Bendigo (one-hour drive) or Melbourne (90 minutes by car) for anything they can’t get at home.
Median house price: $1.35 million
Just inside the entrance to Port Phillip Bay on the Bellarine Peninsula, Queenscliff is surrounded by water on three sides providing the perfect seaside lifestyle for retirement investment.
An historic port town, the Queenscliff wharf is still home to commercial fishing boats while the nearby waters are a diver’s paradise thanks to the shipwrecks and reefs. And it’s not unusual to spot dolphins and seals from the many cliffside vantage points.
A popular tourist destination, Queenscliff has a wide array of dining and shopping, but if you can’t find what you need locally, Geelong only a 30-minute drive away.
New South Wales
With Sydney firmly entrenched as the country’s most expensive place to buy property, a country escape offers not only great value for retirement investors but a chance to unwind away from the frantic pace of the capital.
Median house price: $1.36 million
Visiting Bowral, it’s easy to see why Sydney’s upper crust used to “summer” there.
In the cool Southern Highlands, Bowral is probably best known as the home town of a young Sir Donald Bradman, with the cricket hero memorialised at the Bradman Museum and International Cricket Hall of Fame. But it’s just as famous for its tulips and spectacular gardens.
Median house price: $800,000
Another coastal town well worth retirement investment is Yamba, on the New South Wales north coast.
Known for its epic surf breaks, there’s plenty of less intense water activities to indulge in with beautiful beaches and ocean pools – not to mention wildlife watching, both in the waves and the nearby nature reserves.
Fast becoming a go-to holiday destination, Yamba has everything you’d expect from a much larger centre when it comes to food and culture, without the price tag of it’s more well-known neighbour Byron Bay. For more extensive services, Grafton is less than an hour by car.
The Sunshine State has long been a mecca for retirees looking for year-round good weather. Add in that Queensland is still the most affordable state on the east coast, and there are some great investment options on offer.
Unlock your suburb's demographic profile
This information is a guide only and is an estimate only based on the past 12 months of aggregated online mortgage enquiries from eChoice and partner programs.
Speak to a home loan specialist today
Submitting your enquiry
An eChoice home loan expert will be in touch soon.
Median house price: $825,000
The Sunshine Coast, just far enough from Brisbane to escape the capital hustle and bustle, but close enough for a weekend jaunt, has been popular among retirees as a retirement investment for years. For those wanting a little more tranquility, Maleny is one to note.
In the Sunshine Coast hinterland, Maleny is surrounded by picture-perfect farmland and rainforest. Renowned for its environment and scenic locations, there’s plenty of outdoor activities to choose from, from bird watching to bush walking.
The town centre is lined with cafes and eateries, many featuring local and organic foods, and there are a myriad of crafts and arts galleries to enjoy. It’s just 40 minutes to the main Sunshine Coast shopping districts, or 90 minutes to Brisbane.
Median house price: $450,000
Want to enjoy the Sunshine State but not keen on the heat? Then look no further than Toowoomba.
Known as the Garden City, Toowoomba sits on the crown of the Great Dividing Range at 700m above sea level and overlooking the Lockyer Valley.
Residents enjoy crisp winter air and knee-deep autumn leaves, as well as more temperate spring and summer (average maximum temperature of 28 degrees), compared to coastal living.
The climate is perfect for the local wine and fresh produce, which finds its way into top-rated restaurants and cafes.
With a university and defence force bases, Toowoomba is far from a sleepy backwater, and has its own domestic airport with direct flights to the major capitals and a full-service hospital.
Median house price: Not available
If a quiet, country lifestyle is more to your liking for a retirement investment, then the Hinchinbrook region between Cairns and Townsville offers small-town living on the doorstep to the Great Barrier Reef.
Surrounded by pristine beaches, sugar cane fields and lush mountain ranges, the region, named after Hinchinbrook Island, includes the townships of Tully, Innisfail, Cardwell, Corinda, Forrest Beach and Mission Beach.
While slightly off the beaten-track, the region still punches above its weight with infrastructure and facilities designed to attract southern drive tourists.
Depending on where you choose to live, you can reach Cairns or Townsville in under two hours.
Heading away from the east coast, there are plenty of hidden gems scattered through the less-populous states.
9. Victor Harbour, South Australia
Median house price: $439,500
An hour south of Adelaide, the horse-drawn tram and heritage steam train that delight visitors are a sign that Victor Harbour is a town thriving in living history.
Sheltered by Encounter Bay, the township enjoys plenty of sunshine and low rainfall. If the whales, dolphins and seals are not enough, penguins are making a comeback on the nearby Magnetic Island.
10. Bunbury, Western Australia
Median house price: $670,000
This cosmopolitan city on the west coast, has a thriving arts and culture scene, and eateries galore to choose from.
About two hours’ drive south of Perth, it’s the gateway to the south-west of the state, including the vineyards of the Margaret River and towering tingle trees around Walpole, and the world’s most southern coral reef.
Words by Erin Delahunty
You don’t need to leave the house to get an eChoice consultation. We will discuss your options over the phone, as we are here to make your home loan journey easier.