CoreLogic Property Pulse has detailed a list of the 50 most popular council areas for retirees aged 65 years of age, or greater.
Surprisingly, Victor Harbor, located approximately 80km south of Adelaide, has the highest proportion of residents aged 65 years of age or older.
Around 1 in 3 Victor Harbor residents (37.9%) are at least 65 years of age while Queenscliffe (adjacent to Geelong in Victoria), recorded the nation’s second highest proportion or residents aged 65 years of age or older at 35.3%.
The analysis on our retirees is interesting – not one of the top 50 regions listed is situated within a capital city area, most are in coastal or regional locations.
50 Council regions nationally with the highest proportion of persons 65 years or older and median house and unit values as at June 2015
Interestingly, we found that very few of the council areas in our top 50 list hold a large overall population, only 7 of the 50 listed council areas had a total population of more than 20,000 persons.
Areas that you’d anecdotally assume to be retirement hotspots such as the Gold and Sunshine Coasts, Cairns and the Surf Coast of Victoria, do not appear on the list which indicates to us that these areas have now grown to become much more than just locations for retirees.
As at June 2015, the ABS recorded 3,569,020 million Australians as aged 65 years or older which was equivalent to 15.0% of the total population.
To put this in context, research shows that a higher 18.8% of the national population was aged 15 years of age or under.
Looking at the population aged 50-64 years of age, 18.1% of the population, or 4,294,625 persons, it is set to reach 65 years of age over the next 15 years.
Across individual states and territories, the proportion of the total population aged at or over 65 years of age in June 2015 was: 18.7% in NSW, 18.3% in Vic, 19.8% in Qld, 17.6% in SA, 19.2% in WA, 18.2% in Tas, 22.1% in NT and 18.9% in ACT.
Despite Qld, WA and NT being the 3 states and territories with the highest proportion of residents 65 years or older, zero council regions from Qld or NT are listed on the top 50 list and only 3 regions from WA are listed.
The insights derived from the ‘retiree’ data are extremely valuable, particularly for local governments.
Of particular note, and of concern for state and federal government, is that as Australia’s population ages, there will be a greater requirement for healthcare and associated services, especially given that approximately 4 million additional persons will reach 65 years of age over the next 15 years.
As people retire, a proportion will look to move away from capital cities and to lifestyle areas such as those listed within the table.
Catering to their desires and ensuring that there are sufficient local amenities for an ageing population will be vital.