Australia’s most idyllic regional towns are often expensive havens for retirees.
Places by the coast are typically so pricey that only baby boomers selling up in a big city can afford them, or those on a very high income.
But Australia’s best regional centre is, in fact, neither by the coast nor does it have an elderly population.
Armidale, New South Wales, is regarded as Australia’s best place to retire by Citro, an AMP-owned credit card firm that caters to older consumers.
The New England region city of 29,000 people, between Sydney and Brisbane, is also inland, on the western side of the Great Dividing Range, and is renowned for its cultural sophistication and natural beauty.
Far from being old, its median age of 36 is in fact younger than Australia’s mid-point of 38, being home to the University of New England.
That’s an anomaly in northern New South Wales where coastal towns have some of Australia’s oldest populations, ranging from 69 at Tea Gardens to 67 at Laurieton.
Armidale is also quite affordable with its median house price of $465,436 attainable for someone earning a modest $71,606 salary.
Armidale is regarded as Australia’s best place to retire by Citro, an AMP-owned credit card firm that caters to older consumers
Far from being old, its median age of 36 is in fact younger than Australia’s mid-point of 38, being home to the University of New England
That kind of price point is almost half the cost of Ballina’s mid-point of $902,631, well below Coffs Harbour’s $769,558 level and bohemian Bellingen’s $824,674, going by CoreLogic data.
Armidale’s property market has been flat this year but that could easily change in 2025 when the Reserve Bank starts cutting interest rates.
The regional city is also a short drive from the Dorrigo and Guy Fawkes River national parks, along the scenic Waterfall Way that connects to the Pacific Highway and the mid north coast.
‘About halfway between Sydney and Brisbane, Armidale is a bustling administrative centre with easy access to national parks, gorges, cool-climate vineyards, waterfalls and wildlife habitats,’ the Citro report states.
‘All at a fraction of the cost of living in either of the big cities.’
Tony Windsor, a former independent federal member for New England, says Armidale is the kind of town that would be welcoming to new people relocating from a big city or from other countries.
‘City people would feel comfortable in Armidale because of the diversity of community and the willingness of community to engage, talk to each other,’ he tells me.
‘Armidale has been very receptive of refugees and I think that’s created a diversity of community as well which in my view has been a good thing.’
Armidale’s youthful population is an anomaly in northern New South Wales (pictured are University of New England graduates)
Mr Windsor, who did an economics degree in Armidale, says having a university as a major employer also gives the town more racial diversity than would otherwise be expected of a regional area.
‘The mix of different races in terms of lecturers and tutors, people doing postgrad 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 healthcare centres and property prices.
The best places to retire also generally have a 24-hour hospital and an airport nearby.
Armidale, Australia’s highest city at 1,000 metres above sea level, is a place renowned for its autumnal beauty where the deciduous liquidambar and plane trees on the main streets turn auburn in the weeks before winter.
‘It’s not far from the coast, it can be cold in the winter time but it’s cool in the summer and a lot of people like that,’ Mr Windsor says. ‘The climate’s kind.’
The attractive setting is also complemented by good services and major employers, which mean it will continue to have population growth.
Citro noted that unlike many regional areas, Armidale has a multicultural population, with residents born in a broad range of nations from Iraq to India and Nepal.
Armidale is also quite affordable with its median house price of $465,436 attainable for someone earning a modest $71,606 salary
The Census also revealed Armidale to have residents born in a broad range of nations from Iraq to India and Nepal
‘It’s a multicultural and sophisticated city, too – with people from over 80 nations calling Armidale home,’ it says.
The ethnic diversity also means an annual Culture Fest in March, which sees the main street lined up with international food stalls, live music and cultural events.
‘Discover the perfect blend of urban sophistication, charming country life and natural beauty in the multicultural university town of historic Armidale,’ the Citro report says.
The New England Regional Art Museum is regarded as the best gallery in regional NSW.
Armidale is also home to a twin cinema, a music conservatorium and a symphony orchestra that puts on an annual Bach Festival.
Plus there are shows from the university students.
Then there are the outdoor attractions with bushwalking, including in the World Heritage-listed Oxley Wild Rivers National Park which is home to the Wollomombi Falls.
Closer to town, there’s sailing on the Malpas Dam at nearby Guyra, visits to with wineries and rivers to go trout fishing.
Mr Windsor says that unlike the other New England town of Tamworth, Armidale’s local council can be slower to make decisions in a town more reliant on government services.
‘I don’t think it’s bureaucracy, it’s a diversity of views,’ he says.
‘University town, taxpayer dollars whereas Tamworth is much more commercial and self reliant.’
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