Jeff Gibbs
Retirement living is fast becoming one of Australia’s most affordable and rewarding housing options, with new research showing it not only eases financial pressure for retirees but also frees up much-needed housing for younger families.
According to StewartBrown’s latest Retirement Living Performance Survey Report, the median entry cost for a two-bedroom retirement village unit is equivalent to just 53 per cent of the median house price in the same suburb. Even for three-bedroom units, the average sits at around 66 per cent.
These figures highlight a growing trend—older Australians are recognising that selling the family home and moving into a retirement community can be both financially and emotionally beneficial. By downsizing, retirees can remain close to their existing community, family, and friends while unlocking equity to supplement their income and improve their quality of life.
When 62-year-old Karen Cook made the move to a retirement village at Victoria Point in Queensland seven and a half years ago, she wasn’t planning for early retirement. She was looking for a better life for her husband, Paul, who had been struggling with Parkinson’s disease.
“He’d become quite reclusive because of his Parkinson’s,” Karen explained. “There’s lots of activities here, and I thought it might give him some life again.”
The couple had spent 36 years on the Gold Coast before deciding it was time to make a change. “We just said, okay, this is what we need to do,” Karen said. “I got onto Airtasker, got the house ready, and we were here within 12 weeks. I’m a bit of a goer—a doer—so I just put my mind to it.”
Karen encourages others in similar situations to act early. “People often say, ‘I can’t possibly downsize; I’ve got the kids’ schoolbooks and tools in the garage.’ But it becomes overwhelming if you wait too long. Don’t wait until you can’t manage,” she advised.
Now 69, Karen’s two-bedroom ground-floor unit sits among lush gardens, just a short walk from the bay where Paul once loved to fish. After he passed away, she briefly considered returning to the Gold Coast or moving closer to her daughter in Sydney, but rising house prices and the strong sense of community persuaded her to stay.
“You can close the door, lock the unit and off you go. You know it’s safe, and people keep an eye out for you,” she said.
Ageing Australia CEO Tom Symondson said the report reinforces earlier findings showing that retirement living residents enjoy higher levels of happiness and wellbeing than the general older population.
“Retirement communities aren’t just convenient—they’re a smart, positive financial choice,” Mr Symondson said. “It’s not just about downsizing; it’s about upgrading to a lifestyle that offers freedom, community, and long-term affordability.”
The Catalyst Research Report found residents in retirement villages scored 77.5 on the Catalyst Wellness Index, significantly higher than the average of 71.3 for all older Australians.
For Karen, that sense of wellbeing has only grown. She now works part-time as an Uber driver, occasionally giving her neighbours lifts to appointments, and serves on her village’s Residents’ Committee, which organises social activities and community events.
“I love it—it keeps me busy and connected,” she said. “This move really changed my life for the better.”
As property prices continue to soar across Australia, retirement living offers a genuine solution: affordability, community, and the comfort of knowing you’re not alone. For many, it’s proving to be more than a place to retire—it’s a place to truly live.
