Research in key demographics ranks Ballina as ideal retirement spot

BALLINA has been ranked among Australia’s top regional retirement destinations in a national report analysing healthcare, housing, infrastructure and lifestyle.

Financial services company AMP, in partnership with its rewards platform Citro, released the second annual Retirement Locations Guide, using additional data from its 280,000 members.

Ballina was ranked fifth, while the top retirement destination was Orange, with a median dwelling price of $665,000 and a median weekly rent of $560.

In the top 10, Ballina had the equal highest median dwelling price of $1 million, along with Golden Beach on the Sunshine Coast in Queensland.

Ballina has a median weekly rent of $805 and a population of just over 46,000.

The report follows new research from AMP showing many Australians aged 40 and over are worried about being able to afford their ideal retirement lifestyle.

It also found seven in 10 women were concerned about being able to afford their lifestyle.

“One of the challenges over time at Ballina might be reduced housing availability and a push up in prices, but that swings in roundabouts and right now it’s an area people should be looking at,” Citro managing director Toby Ellis said.

“Ballina really stood out among our main criteria.

“We know it’s a great coastal spot, but it’s also big enough to have everything people need without sacrificing a sense of community.”

Melbourne seaside suburb Rosebud ranked second, with a median dwelling price of $796,000 and median weekly rent of $589.

Wagga Wagga was third, with a median home price of $573,000 and median weekly rent of $525.

A CoreLogic report found the predominant age group in Ballina is 70–79 years.

It also found households are primarily childless couples and are likely to be repaying $1800–$2399 per month on mortgage repayments.

“We did our own research and found one in three Australians over 50 are considering relocating, so it’s an important conversation,” Ellis said.

“We recommend people test the locations, visit four times a year or in different seasons to get a proper feel for the place.

“They should visit local clubs and community groups they might want to join and see if it’s the correct fit.”

Citro has a membership of more than 280,000 people across Australia, with its current research and

top 10 based on regional communities with a population of more than 10,000.