Numbers of city-dwellers choosing a life in the regions has hit a 12-month high, with the latest Regional Movers Index (RMI) showing metro to regional relocations have surged in the first quarter and now sits at 20 per cent above pre-COVID levels.
Data from the study indicates that internal migration across the nation has soared in the first three months of the year, with the regions recording their fifth biggest quarter of influx from city-slickers in the last six years.
Regional Australia Institute (RAI) CEO, Liz Ritchie, said the figures show the nation’s regional renaissance is far from over, with 24 per cent more people moving from the city to regions rather than the other direction.
“People are voting with their feet and making a very conscious decision to live in regional Australia,” Ms Ritchie said.
“Whilst the pandemic super-charged this movement, the regional lifestyle is continuing to prove highly desirable for thousands of people, especially those from cities,” she added.
This movement in population can no longer be seen as a quirky flow-on affect from the lockdown years, she argues.
“A societal shift is underway.
“This sustained trend provides tangible evidence regarding the importance of investing in and supporting the regions, to ensure communities have the services, skills and infrastructure they need for their growing populations,” she said.
New analysis in this quarter’s RMI has shone a light on the demographics of these city movers as well as where they were based and where they’ve moved to.
Commonwealth Bank Regional and Agribusiness Executive General Manager, Paul Fowler, said in all seven capital cities analysed, millennials (born between 1981 and 1995) were the demographic on the move the most.
“This quarter’s report paints the picture of younger individuals or younger families looking for somewhere that's more affordable,” Mr Fowler said.
“Many are opting for the large regional centres which are buzzing with business activity and investment, offering a great range of employment opportunities,” he added.
Ms Ritchie said there was also a clear trend emerging regarding where metro movers were originally living, and where they’d chosen to relocate to.
“With high house prices and cost-of-living pressures biting, many people are realising the regions can offer the lifestyle they want and the jobs they’re after, minus big city problems – like long commute times, tolls and traffic,” Ms Ritchie said.
“People living in ‘commuter belts’, on the outskirts of major metropolitan cities, are relocating within a few years of moving there, often they’re leaving the outer suburbs for big regional centres.”
Further analysis of the figures showed that, in the last year, regional NSW, including towns like Dubbo, Bathurst and Orange, accounted for 39 per cent of net capital outflows from the major cities.
