Challenging the Baby Boomer Retirement Stereotype: ‘An Obvious Choice

As the hustle and bustle of city life becomes increasingly less appealing, a growing number of young Australians are setting their sights on the tranquility of regional areas. This shift is driven by a desire to achieve both financial stability and a more fulfilling lifestyle.

Recent surveys reveal that Generation Z is leading this migration trend, with many expressing a willingness to leave the metropolitan grind behind. This comes as property values in regional towns are beginning to rise at a quicker pace than those in urban centers, making the countryside an attractive prospect for potential homeowners.

Advocates for regional living are enthusiastic about the benefits this influx of young people can bring. They argue that an injection of youthful energy and enthusiasm can revitalize remote communities. However, they also caution that transitioning to regional life is not without its hurdles.

‘No brainer’

Zoe Gleeson, a 24-year-old town planner, exemplifies this trend. After moving from Sydney to a regional town in New South Wales, her life has taken a remarkably positive turn. She and her partner have purchased a home in Mudgee, a charming locale situated about four hours northwest of Sydney—a dream that would have been unattainable in the city’s competitive housing market.

The 24-year-old town planner has bought a home with her partner in Mudgee, about four hours’ drive north-west of Sydney, which would have been impossible in the city.

“My commute is now five minutes, and I can pop home for lunch,” she told SBS News.

“We’ve got a wonderful backyard, which has meant I can get a dog. And just all those little things that really add up.”

Making the move to live regionally had been on her mind for some time, and in October 2024, the pair decided to relocate.

“It was a no-brainer for us to give it a crack,” she said.

“We both found roles where we were getting paid more than we were getting paid in Sydney. I no longer had an hour train commute.”

Besides loving the tight-knit community and lifestyle, affordable housing was a major factor in their decision to move.

“For my generation, a lot of us grew up living the great Australian dream — a house on a quarter-acre block — and it’s just not achievable for us in Sydney anymore,” she said.

Gleeson said she is part of a growing number of “Sydney refuges” moving to Mudgee for a financial and lifestyle shift.

“Even just the pace. Everything’s so much slower here. There’s no rush to get anywhere. Yeah, it really just does change your whole life.”

Gen Z on the move

Liz Ritchie is the CEO of the Regional Australia Institute, an independent think tank seeking to boost Australia’s regions. She said a survey released on Tuesday by the group found that gen Z Australians under the age of 29 were the most likely to consider moving to the regions.

Just under half of those young people surveyed were likely to move regionally, followed by 41 per cent of millennials aged between 30 and 45 years old.

Only 25 per cent of baby boomers, people aged over 62, would consider moving to the regions.

Ritchie said that housing affordability is the number one driver, alongside the cost of living, for gen Z’s desire to relocate.

“We know that the cost of living’s been biting hard in our capitals for a good number of years,” she told SBS News.

“So, they’re really looking at those two elements of financial health and quality of life that are driving our younger cohorts to think about a dream in the regions.”

Meanwhile, older generations were the least likely to move from a metropolitan to a regional area due to concerns around healthcare quality and proximity to family.

“Conventional wisdom would often see that it’s the older baby boomers, the empty nesters, fleeing our capital cities to retire and enter their twilight years,” she said.

“What this report’s saying is that the pendulum has swung and we’re seeing a reversal here.”

Deepening split between metro and regional

Data from property analysts Cotality released on Wednesday found that property values in regional Australia rose faster than in metropolitan areas in the three months to January.

Regional dwellings increased by 3.2 per cent, compared to 2.1 per cent in capital cities, driven by affordability pressures, internal migration and tighter competition its report found.

Cotality’s head of research, Gerard Burg, said the results point to a “deepening divergence” between city and regional markets.

“With capital city prices still near record highs and stock levels tight, many households are once again looking to regional Australia for greater value and liveability,” Burg said.

“We’re seeing momentum build across a wide range of regional markets, from inland hubs to coastal centres and mining adjacent regions.”

Regional Western Australia saw the greatest growth of any state, up 6.1 per cent, while Wagga Wagga in NSW was the strongest individual market nationwide, up 8.1 per cent.

Rents are also rising faster in the regions, up 1.6 per cent over the quarter and nearly 42 per cent over five years, as tight vacancies and limited supply intensify affordability pressures for regional renters.

Social isolation, distance

After years of living regionally, Mikaela Carroll has learned how to make the most of small-town life.

The 28-year-old left Brisbane around six years ago for regional WA, and, after travelling the country, now lives in Launceston, Tasmania.

She told SBS News the financial payoff has been immense, but that as a naturally not outgoing person, it could be difficult to make new connections.

“The social isolation or feeling cut off from family is challenging in the first instance when you move away, and you feel that physical distance,” she said.

“We did consciously put a lot of effort into making local connections to make sure that we were able to get that social input from somewhere.”

Carroll said she and her partner got heavily involved in the Tasmanian community, joining a book club and football team, respectively.

Ritchie said that younger people living in the regions also benefit the community they relocate to.

“Younger demographics such as our gen Z and our millennials are well educated, energetic and ready to be part of a community, bringing their vibrancy, their creativity, their innovation.

“We are very excited to see that younger people are aspiring to have a life in regional Australia.”

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