City dwellers continue to leave capital cities in their droves for areas such as the Far South Coast according to the latest report.
The Regional Australia Institute’s Regional Movers Index, uses data from the Commonwealth Bank to determine movements between regional areas.
It showed that 27% of Aussies moved to the regions, than in the opposite direction during the June quarter with the Bega Valley on the coast, the fast-growing regional hotspot for relocating Aussies.
The Bega Valley was listed as one of the most increasingly attractive places for city-dwellers to move to, with an annual growth in net capital-regional migration of nearly 500%.
The Eurobodalla had 0.7 per cent share of net internal migration, up 311% from 12 months ago, while the Bega Valley saw figures around 0.8 percent, up 314%.
Regional Australia Institute (RAI) CEO Liz Ritchie explained what’s behind the trend.
“Regional Australia has become the nation’s new frontier. This analysis is clearly showing the population movement we’re seeing is a sustained new trend, that is higher than pre-Covid migration patterns. The regional Australia we have now, is quite different to the regional Australia of five years ago,” Ms Ritchie said.
“The emergence of this new era signifies how important the regions are to the future of our nation. The regions will be at the heart of Australia’s net zero transition, and it is vital the infrastructure and services our growing regions require are met to ensure long-term prosperity and sustainability of our country.”
The data shows despite a seasonal dip in overall movement across the country in the June quarter, the Australian population remains highly mobile, with city-to-regional relocations tracking 16 per cent above the pre-Covid average, and regional-to-regional relocations 10 per cent above.
The top five LGA’s by annual growth in total net internal migration inflows in the 12 months to June 2024 vs the previous 12 months to June 23 are:
Bega Valley (NSW), Eurobodalla (NSW), Strathbogie (VIC), Northam (WA), Surf Coast (VIC).
Under the heading ‘Regional Hotspots by Growth’ the report stated “The picturesque Far South Coast LGA, the Bega Valley, emerged as the fastest growing regional LGA this quarter, with a four-fold increase on the back of its popularity amongst city movers. While quarterly growth was up by 63.2 per cent to record the third highest quarterly growth rate of the Top Five.”
“The adjoining LGA of the Eurobodalla also experienced rapid growth. Unlike its South Coast neighbour, regional movers were the key contributors to this growth, which also increased on a quarterly basis (87.1 per cent).
You can view the full report HERE.
