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The latest Regional Movers Index (RMI) has found that the appeal of regional living has held strong during the June quarter, with 27.2 per cent more Aussies moving from the capital cities to the regions.
The RMI is a partnership between the Commonwealth Bank of Australia (CBA) and the Regional Australia Institute (RAI) that analyses proprietary data to create an up-to-date image of large sample relocations.
The index found that population flow from the capitals to the regions is tracking around the levels reported during the peak of the COVID-19 pandemic and 16.4 per cent above the pre-pandemic average.
According to RAI, the index typically tends to fall during the June quarter as relocations begin to slow after an early year rally; however, the 6.1 per cent decline during the quarter was the smallest drop to date and well below the average of 9.3 per cent.
As of the June quarter, the share of those moving from the cities to the regions stood at 11.2 per cent of all internal migration flows, while 8.8 per cent are moving in the opposite direction.
RAI CEO Liz Ritchie said the latest data is building on the pattern seen in previous RMI releases.
“Regional Australia has become the nation’s new frontier,” Ritchie said.
“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.
“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.”
By state, the data revealed that regional NSW and Victoria have attracted the majority of city movers, with around three-quarters of city dwellers making the move to the regions having settled in either state over the past 12 months.
NSW in particular proved to be the more popular state for regional movers, making up the largest share of all net regional inflows at 42 per cent, up from 33 per cent in the 12 months to June 2023.
Meanwhile, regional Victoria also increased its share, accounting for 33 per cent of net regional inflows, up from 20 per cent 12 months earlier.
Commenting on the data, CBA’s executive general manager, regional and agribusiness, Paul Fowler, said that Australia’s love for the regions shows “no sign of slowing down”.
“While the June quarter typically sees a drop in relocations, this quarter saw the smallest decline we’ve ever seen, highlighting the potential for a new era of year-round relocations,” Fowler said.
“The coastal appeal of regional hubs like Lake Macquarie, Bega Valley and Eurobodalla offer an attractive lifestyle with convenient access to quality healthcare and education services, as well as employment opportunities, further bolstered by major industry investments like the Snowy Hydro 2.0 project in Southern NSW.”
However, Fowler said that this was “far from an east-coast story” as Albany, Bunbury, Busselton, Capel, and Northam in Western Australia have also proved to be regional hotspots.
“Western Australia’s vibrant economy can be felt across the state, with the southwestern corner becoming a major drawcard for both city-dwellers and region-to-region movers,” Fowler said.
“The introduction of initiatives like the state’s Government Regional Officer Housing Program are among the contributing factors that have accelerated this growth.
“The continued inflows we’re seeing into the regions like these hotspots of Western Australia, show the appeal among Australians seeking a sea or tree change, and offer even greater opportunity for industry and businesses alike who are eager to capitalise on this growth.”
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