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While many people’s wealth is stored in housing, Tjondro stressed that the report did not conclude that high house prices equaled high happiness.
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“It’s very difficult for a lot of people to get into the property market and that’s certainly not a good thing,” she said.
“We want to avoid sending the message that it’s more expensive to live in areas with higher welfare levels.”
Instead, the report prompts people to think about how to make life more affordable in high-happiness areas, such as by improving housing supply, transport links and infrastructure investment. On the other hand, how to improve happiness in cheaper areas, such as through policies to reduce the gender pay gap and reduce barriers to labor force participation in communities with more immigrants.
For long-time Redland Bay resident Steve Worrad, it’s the close-knit community, numerous coastal walks and being just steps from the local pub where neighbours still gather for a chat every few months that makes his beloved suburb so liveable.
He and his wife moved here from the Byron Bay area 23 years ago, bought and sold several properties in the area and raised their children (who now have children of their own) along the coast.
“It’s just a really nice place to live, there are lots of walkways and parks, and they’re well maintained. We only have a thousand steps to get to the Redland Bay Hotel and 1,200 to 1,400 steps to get to the golf course,” Wollard said.
“We bought our first house here for $210,000 and sold it about three years ago for $920,000. Prices have gone up a lot here … but it’s still a good community, there are still street Christmas parties and community events where everyone brings their own plate.
“My wife and I sometimes take walks along the water and we say how lucky we are to live in such a beautiful place.”
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Denise Quick, of Rayne and Horne Redland Bay, said buyers’ desire for a lifestyle close to the beach and bush was fuelling demand in the area.
“You don’t have to sacrifice too much here because there are so many amenities. There are restaurants, bars, golf clubs and great schools, and you can be in the bush or the islands within minutes,” she said.
“But the area is still 100 per cent undervalued because for a long time people thought it was outside the city fringe. Now, with more people working from home and commuting becoming easier, people are finding they can achieve a better balance.
“Several recent buyers who have bought here have said they’ve always loved the area, but now they’re drawn to it because it’s more laid-back and a welcoming community, with new schools and residential areas, and kids can still play in the cul-de-sacs.
“It’s also welcoming and inclusive, and demand from buyers is outstripping supply at the moment … and I think that trend is going to continue.”
In Noosa, Adrian Reed of agency Reed & Co said the natural environment was a key factor in Noosa’s wellbeing topping the list, as was the town itself – with managers ensuring Noosa’s charm and natural assets continued to be favoured.
“I think a lot of people move here for happiness, and we have an ageing population that is increasingly obsessed with longevity,” he said.
“The facilities and services here match that. On the Sunshine Coast, it’s the combination of natural resources, infrastructure and services that make life long and good and puts us at the top of the list.”
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Ray White Burleigh Group founder Larry Maran said these factors also contributed to the Gold Coast’s high happiness levels, with areas such as Burleigh particularly renowned for their liveability.
“There are lots of nice little details that make people feel happy. Burleigh has a rural feel, a north-facing beach and a coastal promenade, which is one of the reasons it’s so popular,” he said.
“But it’s a feeling, not a substance, a bit like falling in love.”
Maran said more middle-aged and older buyers were spending big to find that feeling, and the rise in Gold Coast house prices was evidence of the demand. The median house price in Surfers Paradise is now $2.65 million; the median house price in Burleigh Waters is $1.375 million. On the Gold Coast, Domain data shows that almost half of the suburbs now have a median house price of more than seven figures.
“Unfortunately, entry-level homes here on the waterfront now start at $1.5 million,” Maran said.
“But buyers are willing to pay a premium to enjoy nature just 10 minutes from the city. The Gold Coast is small enough for them to escape the hustle and bustle of the city, which adds to the comfort factor.”
“When you walk along the waterfront here you’ll also see how many people are in better shape compared to Sydney and Melbourne, thanks to the sunshine and the lifestyle here.”
With Elizabeth Redman
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