Regional moves slow – Fewer Australians are packing up and relocating overall, but those who are still prefer the regions.
The latest Regional Movers Index from Commonwealth Bank and the Regional Australia Institute shows migration from capitals to regional areas dropped by 19.3% in the June quarter from the three months to March, hitting its lowest level since 2019. Movement in the opposite direction also declined, with overall mobility down at a quarterly rate of 15.2% nationwide.
Despite the slowdown, the regions remain more attractive than the cities. City-to-country movers made up 11.2% of total migration, compared to just 8.9% moving from regions to capitals. That leaves a 26% net gain in favour of the regions.
The most sought-after spots included Sunshine Coast, Greater Geelong and Lake Macquarie. Maitland and Fraser Coast also featured in the top five, while Albury posted an eye-catching 1,520% jump in net capital-regional migration over the past year.
It is too early to call this a reversal of the COVID-era treechange trend. But with intracity moves gaining ground, and the net regional migration index down for a third straight quarter, the market is clearly adjusting.
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