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Retiring? New report reveals popular holiday spots among locations ideal for downsizing

18 October 2023

The top 12 locations ideal for downsizing have been revealed and some of Australia’s most popular holiday hot spots have made the list.

The latest report by Property Credit has revealed Noosa, Noosa Hinterland, Sunshine Coast Hinterland and Coffs Harbour are among the list of locations most enticing for down-sizers seeking both lifestyle and a considered financial step towards a comfortable retirement.

Property Credit’s chief executive officer Giordano Stepancic said the market conditions have become particularly desirable for shrewd down-sizers, particularly those buying for retirement.

“Down-sizing is not merely about moving to a smaller home; it’s a significant strategy to bolster superannuation, preparing for a luxurious retirement,” Mr Stepancic said.

“This newfound market softness is a boon for astute buyers and down-sizers. Those who appreciate the intrinsic value and beauty of these locations are now in a vantage point to seize a piece of serenity, whilst making a sagacious financial move,” he said.

The report says Noosa currently offers greater opportunity for down-sizers regarding both lifestyle and value.

The last two years have shown a significant shift across many property markets, with the number of listings dropping as low as 15% of current figures and inventory levels hitting record lows.

The limited selection on offer meant property prices soared higher than expected, however recent markets reveal a shift towards a buyer’s market now brimming with choice and softer price tags.

The report shows the number of listings in Noosa 24 months ago was just 185, but the current house listings now sit at 304.

“The real estate landscape has undergone a dynamic shift over the last 24 months. What was once a sellers’ market with limited choice and escalating prices, has gracefully evolved into a domain ripe with opportunities for discerning buyers,” Mr Stepancic said.

Statistical Area 3Current house listingsListings count 24M agoList Price Median Now
Richmond Valley – Coastal517192$1,195,000
Noosa Hinterland214109$1,200,000
Sunshine Coast Hinterland491224$820,000
Great Lakes24072$835,000
Coffs Harbour541173$860,000
Cleveland – Stradbroke714556$775,000
Hobart – North West28297$585,000
12 locations across 3 states (SE QLD, NSW & TAS)

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This article is for general information purposes only and is not intended as financial product advice. Consider seeking independent financial advice that relates to your individual circumstances.

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