Baby boomers shunning cities to retire in regional areas
An increasing number of Baby Boomers hitting retirement will head to greener pastures and move to regional areas, according to forecasts from a market research company.
A study, released by market research company Propertyology, has identified 40 regional locations that are expected to be targeted by those born between 1946 and 1964, consisting of locations that combined good health care, lifestyle drivers and affordability.
The locations have all the essential infrastructure of a major city, without prohibitive entry costs. NSW topped the list with 13 suburbs, while Victoria had six.
Image credit: Domain / Propertyology
Propertyology Managing Director Simon Pressley said these regional locations presented sound option for seniors looking to downsize without having to give up their lifestyle, and suggested there could be a mass baby boomer migration in the coming decades.
Pressley said, “Baby boomers didn't have their employer contributing towards superannuation until the back end of their working years. So, one way or another, around 90 per cent of this generation will have some reliance on a government-funded pension.”
“Don’t be surprised if tens, and possibly hundreds, of thousands end up organising a removal truck and relocating to one of the many beautiful parts of regional Australia in search of a sea- or tree-change.”
Have you decided to embark in a sea or tree-change in your life? Do you know anyone who has? How did you find the experience?
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