For many seniors, South East Queensland (SEQ) has become an appealing destination for retirement living due to its stunning landscapes, favourable climate, and thriving communities. The state government is also looking at the area for a long-term housing initiative.
In this blog post, we will discuss the QLD government’s housing initiative and explore strategies to prepare for retiring in South East Queensland.
Queensland Housing Strategy
In August 2023, the Queensland Government unveiled an updated version of the South East Queensland Regional Plan 2017. The main objective of the plan is to have 863,600 homes built in the region by 2046, to cater for an expected surge of 2.2m new residents, adding the total population in the area to over 6m.
Part of this component is for up to 20 per cent of new homes to be affordable for low-income earners. Approximately 100,000 of the new properties are also aimed to be built close to major transport and employment hubs, and basic services outlets; the SEQ Infrastructure Supplement will help govern the development of these properties.
The SEQ’s 12 local government area councils — Brisbane, Gold Coast, Ipswich, Lockyer Valley, Logan, Moreton Bay, Noosa, Redland, Scenic Rim, Somerset, the Sunshine Coast, and Toowoomba (urban extent) — are being tasked to adjust their housing plans for more diverse properties. The state government also believes Brisbane’s hosting of the 2032 Summer Olympics and Paralympics will accelerate the development targets stated in the Plan, with the construction of Olympic facilities also lending itself to more property developments in and around SEQ.
Members of the public are encouraged to provide input for the Plan by visiting the ShapingSEQ 2023 page. The feedback will help officials assemble the final shape of the Plan, expected to be released by late 2023.
State Deputy Premier Stephen Miles is hopeful of the Plan setting a tone for an improved quality of life in SEQ.
“This plan helps put in place a framework that councils can use to deliver more homes over the coming decade. It means more opportunities for young people and future generations to buy their first home, workers to live closer to their jobs, and older Queenslanders looking to downsize but stay within a connected community.
“This plan doesn’t mean growth everywhere – it plans for growth in the suburbs that can cater for growth… We don’t want to see Brisbane become like Sydney where people can’t live close to work and spend hours commuting every single day,” he said.
Retirement Planning in Queensland
The draft South East Queensland Regional Plan has already generated much buzz for people looking to SEQ for a comfortable retirement or a chance to start over. It can even pique some Australians reaching senior age by 2046 and start planning accordingly.
Researching the Ideal Communities
Before retiring in Southeast Queensland, it’s essential to conduct thorough research on the various communities in the region. Consider factors such as proximity to family and friends, access to healthcare facilities, recreational amenities, public transport, and local services. Popular retirement communities in SEQ include the Gold Coast, Sunshine Coast, and Brisbane suburbs known for their senior-friendly infrastructure and vibrant social scenes.
Financial Planning and Investment
Investing in a Queensland property can be a wise financial decision, especially if you plan to retire in the region. Property in South East Queensland has shown promising growth over the years, making it an attractive option for retirees seeking a solid investment.
Consult with a financial advisor to assess your financial situation, explore your options and develop a comprehensive retirement plan that aligns with your lifestyle goals.
Downsizing and Decluttering
As retirement approaches, downsizing from a larger family home to a smaller, more manageable property is a common step for many seniors. Downsizing not only reduces maintenance responsibilities but also frees up funds that can be invested in your retirement plan or used to enhance your retirement lifestyle.
Begin decluttering early, keeping only important items and sentimental belongings to make the transition smoother.
Exploring Retirement Living Options
South East Queensland offers a plethora of retirement living options catering to various preferences and needs. Retirement villages, independent living communities, and aged care facilities are among the choices available. Visiting these communities, engaging with current residents, and assessing the amenities and services they offer can help you find the best fit for your retirement lifestyle.
Accessing Government Support
The federal government provides several support programmes and initiatives to assist seniors in their retirement years. These may include pension schemes, healthcare benefits, and concessions on essential services.
Make sure to research and apply for any eligible support to maximise your financial security and comfort during retirement.
Embracing a Healthy Lifestyle
Preparing for retirement in South East Queensland should also involve focusing on health and wellness. The region’s climate and abundant outdoor activities present an excellent opportunity to lead an active lifestyle. Engage in regular exercise, maintain a balanced diet, and participate in community wellness programs to enhance your overall well-being and quality of life in retirement.
Social Engagement and Community Involvement
Retiring in South East Queensland offers numerous opportunities for social engagement and community involvement. Joining local clubs, hobby groups, or volunteer organisations can help you build meaningful connections and friendships. Active social participation contributes to a fulfilling retirement and a sense of belonging in your chosen community.
Consult with Real Estate Agents
Navigating the property market in Southeast Queensland can be overwhelming, especially for those unfamiliar with the region. Engaging with reputable real estate professionals who specialise in retirement properties can be beneficial. They can guide you through the available options, provide valuable insights, and help you find the perfect property that meets your retirement needs and preferences.
The ASAG Reverse Mortgage
Retirement marks a significant chapter in life where seniors look forward to relaxation, leisure, and spending time in a location that suits their lifestyle needs. Retiring in South East Queensland opens up a world of opportunities for seniors seeking a fulfilling and enjoyable retirement lifestyle.
The ASAG team is dedicated to assisting Australian seniors with their Retirement Planning by offering the ASAG Reverse Mortgage, which allows you to tap into the equity in your home and savour your retirement.
You can reach us at 1300 002 724 or via email at email@example.com. Please don’t hesitate to contact us or send us any questions regarding our equity release options.
Furthermore, you can start your equity assessment using our provided tool below.
DISCLAIMER: This article is for informational purposes only. The Australian Seniors Advisory Group has no relations with the Queensland Government, nor have financial interests in the South East Queensland region.