Regional Australia continues to attract city movers, with the latest Regional Movers Index (RMI) showing a significant increase in relocations to country towns and rural communities.
The quarterly report, a collaboration between the Regional Australia Institute (RAI) and Commonwealth Bank (CBA), reveals migration to regional areas is now 80% above pre-COVID averages.
“City-to-regional relocations are 19.8% above pre-COVID levels and 1.8% higher than during the peak of lockdowns,” RAI CEO Liz Ritchie said. “Meanwhile, regional residents are staying put, with inter-regional moves down 5.1%.”
Maitland in New South Wales emerged as a standout destination, accounting for 3.4% of net internal migration.
Paul Fowler (pictured above), CBA executive general manager of regional and agribusiness banking, attributed this growth to Maitland’s affordability, robust infrastructure, and proximity to Newcastle.
“Maitland is thriving with ongoing residential, industrial, and commercial developments,” Fowler said. “It’s also set to benefit from Newcastle Airport’s expansion to international flights in 2025.”
In Victoria, LGAs like Queenscliffe, Wangaratta, Moira, and Strathbogie saw notable increases in migration.
Fowler highlighted the appeal of regional Victoria, with inflows rising from 21% to 30% over the year.
“Proximity to Geelong and Melbourne offers opportunities for work and lifestyle benefits,” he said.
Australia’s east coast remains the top choice for city movers, with regional NSW securing 36% of net inflows, followed by Victoria (30%) and Queensland (24%).
Smaller communities like Bunbury (WA), Scenic Rim (Qld), and Murray Bridge (SA) are also gaining traction.
Sydney accounted for 57% of net outflows from capital cities, while Melbourne contributed 38%, reflecting the enduring appeal of regional living, the RAI-CBA report found.
Despite the positive migration trends, challenges persist. Housing remains a critical issue for many regional communities.
“Regional Australia is growing, but we need the infrastructure and services to sustain this momentum. Now is the time to lay the foundations,” Ritchie said.
The report underscored the regions’ growing role as Australia’s “new frontier,” offering opportunities for individuals and businesses alike. With sustained investment and support, regional areas can continue to thrive.
Go to CBA Newsroom for the media release. You can also download the Regional Movers Index: September 2024 Quarter Report.
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