Australia’s most idyllic regional cities are often expensive havens for retirees.
Locations on the coast are often so expensive that only baby boomers selling in a big city can afford them, or those with very high incomes.
But in fact, Australia’s best regional center is neither along the coast nor has an elderly population.
Armidale, New South Wales, is considered Australia’s best place to retire by Citro, an AMP-owned credit card company that caters to older consumers.
The New England city of 29,000, between Sydney and Brisbane, also lies inland on the western side of the Great Dividing Range and is famous for its cultural sophistication and natural beauty.
Far from being old, its average age of 36 is actually younger than the midpoint of 38 in Australia, where the University of New England is located.
This is an anomaly in northern New South Wales, where coastal towns have some of the oldest populations in Australia, ranging from 69 in Tea Gardens to 67 in Laurieton.
Armidale is also quite affordable with the average house price of $465,436 achievable for someone earning a modest salary of $71,606.
Armidale is considered Australia’s best place to retire by Citro, an AMP-owned credit card company that caters to older consumers.
Far from being older, its average age of 36 is actually younger than the midpoint of 38 in Australia, where the University of New England is located.
That kind of price is almost half the cost of Ballina’s midpoint of $902,631, well below Coffs Harbor’s $769,558 level and Bohemian Bellingen’s $824,674, according to CoreLogic data.
Armidale’s housing market has been stable this year, but that could easily change in 2025 when the Reserve Bank starts cutting interest rates.
The regional city is also just a short drive from the Dorrigo and Guy Fawkes River National Parks, along the picturesque Waterfall Way which connects to the Pacific Highway and the Mid North Coast.
“Approximately halfway between Sydney and Brisbane, Armidale is a lively administrative center with easy access to national parks, gorges, cool climate vineyards, waterfalls and wildlife habitats,” Citro’s report states.
“All at a fraction of the cost of living in any of the big cities.”
Tony Windsor, former independent federal member for New England, says Armidale is the kind of town that would welcome new people moving from a big city or from other countries.
“People from the town would feel comfortable in Armidale because of the diversity of the community and the willingness of the community to participate and talk to each other,” he tells me.
“Armidale has been very welcoming to refugees and I think that has also created a diversity in the community, which in my opinion has been a good thing.”
Armidale’s young population is an anomaly in northern New South Wales (pictured, University of New England graduates)
Windsor, who completed a degree in economics at Armidale, says having a university as a major employer also gives the town more racial diversity than would be expected from a regional area.
“The mix of different races in terms of professors and tutors, people doing graduate work,” he says.
Citro has published a 138-page report exploring the options for both downsizers and renters. They looked at leisure facilities, sense of community, accessibility to health facilities and property prices.
The best places to retire also tend to have a 24-hour hospital and a nearby airport.
Armidale, Australia’s highest town at 1,000 meters above sea level, is a place famous for its autumnal beauty where the deciduous sweetgums and plane trees on the main streets turn reddish in the weeks before winter.
“It’s not far from the coast, it can be cold in the winter, but it’s cool in the summer and a lot of people like that,” says Mr Windsor. “The weather is good.”
The attractive environment is also complemented by good services and major employers, meaning it will continue to see population growth.
Citro noted that unlike many regional areas, Armidale has a multicultural population, with residents born in a wide range of nations, from Iraq to India and Nepal.
Armidale is also quite affordable with the median home price of $465,436, attainable for someone earning a modest salary of $71,606.
The census also revealed that Armidale has residents born in a wide range of countries, from Iraq to India and Nepal.
“It is also a multicultural and sophisticated city, with people from more than 80 countries calling Armidale home,” he says.
Ethnic diversity also means an annual Cultural Festival in March, where the main street is lined with international food stalls, live music and cultural events.
“Discover the perfect blend of urban sophistication, charming country living and natural beauty in the multicultural university town of historic Armidale,” says Citro’s report.
The New England Museum of Regional Art is considered the best gallery in regional New South Wales.
Armidale is also home to a twin cinema, a music conservatory and a symphony orchestra which organizes an annual Bach Festival.
There are also shows by university students.
Then there are the outdoor attractions with walks, including the World Heritage-listed Oxley Wild Rivers National Park, which is home to Wollomombi Falls.
Closer to the city, there is navigation through the Malpas dam in nearby Guyra, visits to wineries and rivers to fish for trout.
Windsor says unlike Tamworth, another New England town, Armidale local council can take longer to make decisions in a town that relies more on government services.
“I don’t think it’s bureaucracy, it’s diversity of points of view,” he says.
“University town, taxpayers’ money, whereas Tamworth is much more commercial and self-sufficient.”