A recent report indicates that Sydney residents continue to dominate internal migration rates in Australia, representing more than half of individuals relocating from urban areas in search of new living environments. The nation’s most expensive capital has become less attractive to many homeowners and renters, prompting them to explore options away from the city’s hustle and bustle.
The report, a collaboration between the Commonwealth Bank and the Regional Australia Institute (RAI), shows that moving from major cities to regional areas remains one of the most prominent migration trends, despite rising property prices.
Moves from capital cities to regional areas accounted for around 12% of total population movements between local government areas in the last quarter of the previous year, marking the second-highest proportion since the end of the pandemic in 2022.
Currently, the Sunshine Coast is the preferred destination for Australians leaving major cities, followed by Geelong in Victoria and then Fraser Coast in Queensland. Other areas, such as Lake Macquarie and Morayfield, continue to attract residents seeking a quieter life away from crowded urban centers.
However, there has been a slight decline in the number of people heading to these popular areas compared to the previous year, as some are opting for more remote and affordable locations. Liz Ritchie, CEO of the RAI, points out that there is a shift in preferences, with some people seeking new areas outside traditional destinations, especially in Queensland, which continues to draw large numbers of residents thanks to its diverse lifestyle opportunities.
Amid these dynamics, the latest PropTrack statistics show a 0.6% rise in regional property prices in February, with an annual increase of 10.5%, reflecting the ongoing strong demand for housing outside major cities.
