This article takes a look at the 5 best places to retire in Australia. If you wish to check out our detailed analysis on the rise of ETF investments in Australia and the country’s viability as a retirement destination, you may go to 15 Best Places to Retire in Australia.
5. Esperance, Western Australia
Insider Monkey Score: 12
Situated on the south coast of Western Australia, Esperance is a town famous for its breathtaking coastal beauty, mild climate, and outdoor activities. Many natural wonders such as the Recherche Archipelago and Cape Le Grand National Park can be found here, offering retirees much to do. Cultural amenities and essential services are easily available as well, and so are facilities pertaining to healthcare. The monthly cost of living for an individual expat retiree in Esperance ranges between $2,000 to $2,500.
4. Melbourne, Victoria
Insider Monkey Score: 13
Besides the big-city amenities, retirees are drawn to Melbourne for its vibrant cultural scene, diverse housing options, and numerous parks and green spaces. Retirees also get to enjoy the diverse array of restaurants, cafes, and markets in the city. Historical buildings, museums, and heritage sites make living here all the more appealing. Melbourne has also been recognized as the UNESCO City of literature and is one of the most livable cities in the world. On average, the monthly cost of living for an individual retiree is $2,393. This cost includes the average rent of a one-bedroom apartment, which is $1,264. The median house price in Melbourne is $918,350.
3. Perth, Western Australia
Insider Monkey Score: 14
Another attractive choice for retirement in Australia is the city of Perth. With its proximity to both the Swan River and the southwest coast, the city provides retirees with abundant opportunities for recreation and an enriching lifestyle. The city also enjoys the most sunshine hours as compared to other major cities, and retirees here love to spend an active lifestyle doing hiking, golf, water sports, and more. There is a thriving cultural scene as well. On average, the monthly cost of living for an individual retiree in Perth is $2,875. This cost includes the monthly rent of a one-bedroom apartment, which is $1,579.
2. Port Stephens, New South Wales
Insider Monkey Score: 15
Port Stephens in New South Wales offers a wide range of amenities, numerous outdoor activities, as well as a beautiful coastal lifestyle. The “Dolphin Capital of Australia” is a popular spot for whale watching, is home to Tomaree National Park which features stunning coastal scenery, and is brimming with marine and bird life as well. Retirees seeking a serene coastal environment to spend their golden years should retire here. Based on lifestyle requirements and needs, an individual retiree would need $2,500 to $3,000 monthly to retire here.
1. Hobart, Tasmania
Insider Monkey Score: 16
Hobart offers a dream retirement for nature enthusiasts, with breathtaking features like the majestic Mount Wellington, idyllic Kingston Beach, Sandy Bay’s pristine shores, and the picturesque Derwent River. The temperate maritime climate makes living here comfortable and pleasant, with numerous outdoor activities to enjoy. The cultural and culinary scene are both equally vibrant as well, offering fine dining experiences and cultural festivities at their finest. On average, the estimated monthly rent for a one-bedroom apartment is around $813, and the average monthly cost of living is $2,030.
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