Source: Realestate.com.au
REGIONAL Queensland continues to attract the lion’s share of Australia’s internal movers despite a lack of housing slowing down the great migration from capital cities, a new report has revealed.
The latest Regional Movers Index by the Regional Australia Institute (RAI) and the Commonwealth Bank revealed that the Sunshine Coast (17%) and Gold Coast (9%) recorded the biggest share of net internal migration during the 12 months to June, but both recorded falling growth (7% and 55% respectively) compared to the same period a year ago.
The Fraser Coast also continues to attract new residents from both the cities and other regions with 6 per cent of movers relocating there.
Four per cent of people migrating are heading to Bundaberg, while 3 per cent are shifting to Toowoomba and Mackay.
Meanwhile, two per cent are relocating to Cairns, Townsville, South Burnett, Livingstone, Gladstone.
“Migration flows to regional areas were up more than 16 per cent in the June quarter compared to the same period in 2018 and 2019, revealing a continuing pattern of more people moving to regional areas from cities than the opposite direction”, the report said.
However migration flows between regions has retreated back to levels reported at the end of 2022 after reaching “historic highs” in the last quarter.
“Although not explicit in the data, the lack of regional housing is likely to be playing a role in the decline in the total number of movers this quarter, with the number of capital to regional movers also down,” it said.
Queensland proved the most attractive place for city dwellers moving to the regions, accounting for 41 per cent of net capital outflows in the 12 months to June 2023 – up from 33 per cent the previous year.
“Sydney remained the largest population shedder, accounting for 94 per cent of capital city net outflows in the 12 month period to June 2023, up from 66 per cent a year ago,” the report said.
“In contrast, Brisbane and Perth continued to attract strong net inflows from other capital cities and regions, in the vicinity of 15 and 13 per cent, up from the 10 per cent share they both held in the 12 months to June 2022.”
