Australia’s demographics: a sea change
For anyone reading this in New South Wales, I encourage you to consider a summer holiday at Hawks Nest. About 220km north of Sydney, both it and the neighbouring Tea Gardens offer many things; including beautiful beaches and bays, great seafood and a wonderful golf course.
What makes Hawks Nest unique, according to the Australian Bureau of Statistics, is that it’s home to Australia’s oldest residents, where the average age is 60 years. This compares with Australian’s median age of 37 years.
There are several other Australian towns where the proportion of residents aged 65 years and over is approaching 40 per cent.
These include Tuncurry (40%), Berrara (38%), Bribie Island (37%), Victor Harbor (37%) and Paynesville (36%).
ABS director of demography, Denise Carlton, says: “The older population in these areas… reflects a preference among many older Australians to retire to coastal and rural parts”.
To cope with such demographics, greater investment in old-aged facilities in these towns will be required, and if this is not forthcoming then watch out for some cheap beach houses!
Chief Executive Officer of Montgomery Investment Management, David Buckland has over 30 years of industry experience. David is a deeply knowledgeable and highly experienced financial services executive. Prior to joining Montgomery in 2012, David was CEO and Executive Director of Hunter Hall for 11 years, as well as a Director at JP Morgan in Sydney and London for eight years.
This post was contributed by a representative of Montgomery Investment Management Pty Limited (AFSL No. 354564). The principal purpose of this post is to provide factual information and not provide financial product advice. Additionally, the information provided is not intended to provide any recommendation or opinion about any financial product. Any commentary and statements of opinion however may contain general advice only that is prepared without taking into account your personal objectives, financial circumstances or needs. Because of this, before acting on any of the information provided, you should always consider its appropriateness in light of your personal objectives, financial circumstances and needs and should consider seeking independent advice from a financial advisor if necessary before making any decisions. This post specifically excludes personal advice.
