Australians are increasingly shunning commuter towns and moving to regions with thriving local economies in a shift driven by cost-of-living pressures and the housing squeeze. Regional migration is sitting at the same level as the tail end of COVID-19 lockdowns, new figures show. The most popular places to relocate are outside the commuter belts, according to the June quarter Regional Movers Index released on Monday.
"Movers (are) increasingly attracted to areas with thriving local economies built on industries such as mining, agriculture, manufacturing, health care, and tourism," the report said. "The availability and cost of housing are also influencing this broader movement pattern, as movers seek regions where house price growth is slowing or there is some rental availability." These regions included Strathbogie, in central Victoria, the Bega Valley, in southern NSW, Tasmania's George Town and Port Lincoln in South Australia.
The Index, compiled by the Regional Australia Institute using Commonwealth Bank data, showed 27 per cent more people moved from the capitals to the regions than in the other direction. Queensland's Sunshine and Gold coasts, Greater Geelong and Moorabool in Victoria and Lake Macquarie in NSW had the largest inflows. While regional areas on the east coast continued to attract the biggest share of city folk, Western Australia's regions were also getting a look in.
Albany, Bunbury and Northam were among the top five areas to experience the greatest growt.