THE best Australian town to retire to: It’s a haven for pensioners, investors AND young families. But the low house prices in this hidden gem won’t last

Australia’s most idyllic regional towns are often expensive retreats for retirees.

Places on the coast tend to be so expensive that only baby boomers selling in a big city can afford them, or people with very high incomes.

But Australia’s best regional center is not actually on the coast and does not have an elderly population.

Armidale, New South Wales, is considered the best place to retire in Australia by AMP credit card company Citro, which targets older consumers.

The New England city of 29,000, between Sydney and Brisbane, is also located inland, at the western end of the Great Dividing Range, and is known for its cultural sophistication and natural beauty.

Far from old, the average age of 36 is in fact younger than the middle of Australia, which is 38, where the University of New England is located.

That’s an anomaly in northern New South Wales, where coastal towns have some of Australia’s oldest populations, ranging from 69 in Tea Gardens to 67 in Laurieton.

Armidale is also quite affordable with an average house price of $465,436 achievable for someone earning a modest salary of $71,606.

That kind of price is almost half the cost of Ballina’s midpoint of $902,631, well below Coffs Harbor’s $769,558 and Bohemian Bellingen’s $824,674, based on CoreLogic data.

Armidale’s property market has been flat this year, but that could easily change in 2025 if the Reserve Bank starts cutting interest rates.

The regional city is also a short drive from 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 vibrant administrative center with easy access to national parks, gorges, cool-climate vineyards, waterfalls and nature reserves,” the Citro report said.

“All at a fraction of the cost of living in both major cities.”

Tony Windsor, a 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.

“City people would feel comfortable in Armidale because of the diversity of the community and the willingness of the community to engage and talk to each other,” he tells me.

“Armidale has been very receptive to refugees and I think that has also created a diversity of communities, which I think has been a good thing.”

Mr Windsor, who studied economics 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 faculty and lecturers, people doing post-doctoral work,” he says.

Citro has published a 138-page report examining the options for both downsizers and tenants. They looked at leisure facilities, sense of community, accessibility to health centers and property prices.

The best places to retire also generally have a 24-hour hospital and an airport nearby.

Armidale, Australia’s highest town at 1000 meters above sea level, is a place known for its autumnal beauty where the deciduous liquidambar and plane trees on the main streets turn maroon 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 Windsor. ‘The climate is good.’

The attractive environment is also complemented by good services and large employers, which will continue to increase population growth.

Citro noted that unlike many other regional areas, Armidale has a multicultural population, with 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,” it says.

The ethnic diversity also means an annual Culture Festival in March, with the main street packed 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 said.

The New England Regional Art Museum is considered the best gallery in regional NSW.

Armidale is also home to a double cinema, a music conservatory and a symphony orchestra that hosts an annual Bach festival.

In addition, there are shows by university students.

Then there are the outdoor bushwalking attractions, including the World Heritage-listed Oxley Wild Rivers National Park, home to the Wollomombi Falls.

Closer to the city, there sailing on the Malpas Dam in nearby Guyra, visiting wineries and rivers for trout fishing.

Mr Windsor says that, unlike the other New England city of Tamworth, Armidale council can be slower to make decisions in a city more reliant on government services.

“I don’t think it’s bureaucracy, it’s a diversity of views,” he says.

‘University town, taxpayers’ money, while Tamworth is much more commercial and self-reliant.’