As an indicative guide, a comfortable retirement in Australia costs roughly £3,300/month for a couple — about £39,600/year (≈ A$ 6,369/month). A modest budget is nearer £2,250; a premium one nearer £4,800.
Roughly where a comfortable £3,300/month goes:
Indicative estimates for a couple, general guidance only — real costs vary by location, lifestyle and exchange rates.
Sunshine, space, beaches, excellent healthcare and English-speaking familiarity make Australia a dream for many, most often retirees joining adult children already settled there, given the high costs and strict visas.
Foreign residents may generally only buy new-build or off-plan homes, or vacant land to build on, with prior FIRB approval and fees; a ban on foreigners buying established (existing) homes runs until mid-2029. Permanent residents and citizens buy without these restrictions. As a general guide only — always confirm the current rules with a qualified local lawyer. Our free ownership checker and the Overseas Property Playbook walk through how ownership works step by step.
Australia no longer offers a retirement visa to new applicants (the 405 and 410 subclasses are closed). The main routes now are parent visas for those with a child settled in Australia, which lead to residency but carry long waits and high fees. Visa rules change often, so treat this as a starting point and verify the latest requirements before you plan.
Queensland's Gold Coast and Sunshine Coast for warm, beachy living hugely popular with retirees; sunny, relaxed Perth; and coastal New South Wales towns like Port Macquarie — though many Britons simply settle wherever their adult children already are.
Medicare covers citizens and permanent residents, and the UK's reciprocal agreement gives British visitors medically necessary care, but most retirees on parent or temporary visas aren't fully covered and are required to hold private health insurance. Care is excellent, so budget for private cover as an older arrival.
As an Australian tax resident you're taxed on worldwide income, so a UK pension is generally taxable in Australia at progressive rates (nothing up to A$18,200, then 16-45%), with the UK-Australia treaty preventing double taxation. Those of Age Pension age may qualify for the Seniors and Pensioners Tax Offset, which can reduce or remove the bill on modest incomes.
Southern-hemisphere seasons are reversed, and the populous coasts are warm and sunny — hot summers (December-February) and mild winters (June-August), tropical in the far north and temperate in the south. Very safe and English-speaking, with a familiar, outdoorsy culture and driving on the left — about as easy a cultural fit as a British retiree will find, high costs aside.
Foreigners can generally only buy new-build homes or vacant land — established homes are off-limits from April 2025 to mid-2029 — and must budget heavily: FIRB approval fees (from about A$4,600, rising steeply with price), standard state stamp duty of roughly 4-5.5%, and a foreign-buyer surcharge of 7-9% on top. Permanent residents and citizens avoid both the surcharge and the ban.
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