Capital-to-regional migration in the June quarter equalled the strongest June quarter on record, matching the pandemic-era peak of 2021, according to the latest Regional Movers Index.
The index, produced by the Commonwealth Bank (CBA) and the Regional Australia Institute (RAI), found people leaving the capitals for the regions outnumbered those heading the other way by 30%.
Sydney accounted for 52% of capital city outflows and Melbourne 36%. Regional New South Wales and regional Victoria took 33% and 26% of net regional inflows, respectively.
RAI chief executive Liz Ritchie (pictured left) said relocations normally ease in the cooler June quarter, which makes the result stand out. She said it showed “the appeal of country living remains incredibly strong all year round”.
Central Goldfields in Victoria was the quickest-expanding destination nationally. Greater Geraldton in Western Australia recorded the biggest lift in net capital-to-regional migration for the quarter, while the Mid Coast in New South Wales led for net regional-to-regional migration.
In a media release, Kylie Allen (pictured right), executive general manager of regional and agribusiness banking at CBA, said that as established regional centres expand, “people are increasingly moving deeper into surrounding areas” as they look further afield for homes, work, and lifestyle.
The Sunshine Coast remained the most popular destination by share of movers, but the spread is reaching further north. Burdekin, the Tablelands, and Douglas ranked among the country’s fastest-growing local government areas by annual growth in net internal migration.
Allen linked the northern trend to diverse local economies. Burdekin draws on agriculture, manufacturing, and renewable energy. The Tablelands benefits from agribusiness and tourism near Cairns, while Douglas is supported by tourism and continued infrastructure investment.
Ritchie pointed to RAI’s Regional Population Planning report, which found regional growth had exceeded government projections by 114,000 people over the past decade. She called for planning that keeps housing, infrastructure, and essential services in step with that growth.
Regional property values have held up better than the capitals. Cotality’s October Home Value Index found regional dwelling values were up 5.6% over the year to September, while values across the combined capitals fell 1.8%.
Pockets of regional Queensland are showing strain, however. Cairns’ Manunda postcode recorded a 156% quarterly rise in households under mortgage stress, the largest among the postcodes tracked in recent data showing mortgage stress has hit 450,000 households.
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