Western Australia gains popularity among metro movers
Achieving a record share of net internal migration over the past year, the Sunshine Coast has emerged as Australia’s most preferred destination for domestic movers, according to the latest Regional Movers Index (RMI).
The index, a collaborative effort between the Commonwealth Bank of Australia (CBA) and the Regional Australia Institute (RAI), has also revealed that regional Western Australia is also attracting attention, particularly from metropolitan residents.
The December 2023 quarter RMI report indicates a 4.6% increase in net internal migration to regional areas over the last three months, marking the highest level since September 2022 and a 13.8% rise above the pre-pandemic average.
Liz Ritchie (pictured left), chief executive at Regional Australia Institute, said the lure of regional living remains strong, with 24.9% more people moving from the city to the regions, than back in the opposite direction.
“Regional Australia offers something more for many people, especially those from big cities,” Ritchie said. “More space, more time, more affordability. This shift, away from capital city living, has been underway now for a decade. It was definitely super-charged by COVID, but this data proves the regions are still very desirable for a significant proportion of the population.”
Sydney and Melbourne were identified as the capitals losing the most residents over the past year, with Sydney accounting for 65% of all capital city outflows, followed by Melbourne at 35%. In contrast, regional New South Wales, Queensland, and Victoria were the leading recipients of net inflows from the capitals.
The Sunshine Coast has solidified its position as a prime destination, commanding a 17.5% share of all net internal migration, an increase from 12.5% the previous year. This places it ahead of other popular regions, including the Gold Coast and Greater Geelong.
Paul Fowler (pictured right), executive general manager for regional and agribusiness banking at Commonwealth Bank, said the Sunshine Coast offered a wonderful lifestyle experience and is one of Queensland’s fastest-growing economies, so it was no surprise it had retained its coveted number one spot for the fifth quarter in a row.
“A skilled and diverse labour supply is one of the most critical inputs for any economy and Sunshine Coast businesses across a wide range of sectors are taking advantage of the growth in people coming to the area, moving at pace to explore new and innovative opportunities,” Fowler said.
“The tug of regional New South Wales remains strong with communities relatively close to Sydney, such as Lake Macquarie, Cessnock and Maitland, making various hotspot lists.”
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