REGIONAL Australia is the nation’s ‘destination of choice’ according to the latest Regional Movers Index (RMI) report, with data showing that while city dwellers are continuing to relocate out of metropolitan areas, regional Australians are increasingly staying put.
Regional Australia Institute (RAI) Chief Executive Liz Ritchie said data from the September 2024 quarter report shows city-to-regional relocations are now sitting at 19.8 per cent above the pre-Covid average, and 1.8 per cent above the average recorded during the height of lockdowns.
“In contrast, the inter-regional migration index, which tracks regional to regional relocations, has fallen by 5.1 per cent, suggesting that more regional residents are content to stay where they are,” she said.
“With the continuing strong jobs market across regional Australia, increasing city property prices, and ongoing cost-of-living pressures, it’s no surprise the regions remain desirable.
“The net migration index … is now sitting at its highest level since March 2022, and is 80 per cent above the pre-Covid average.
“It is vital this demographic shift is recognised, and regional communities are provided with the infrastructure, services, and support they need.
“As a nation, we must acknowledge that we are in a new era of migration where regional Australia is at the forefront.”
The RMI is a partnership between the RAI and Commonwealth Bank of Australia (CBA), which analyses quarterly and annual trends in people moving to and from Australia’s regional areas.
CBA Executive General Manager Regional and Agribusiness Banking Paul Fowler said the report showcased a surge in popularity for regional Victoria.
“A move to regional Victoria remains on trend among those relocating, with the state’s regional areas experiencing the largest surge in popularity in the 12-month period to September 2024,” he said.
“With its share of net regional inflows rising from 21 per cent to 30 per cent, trending scenic [areas] like Queenscliffe on the coast, Moira, Wangaratta, and Strathbogie … offer attractive and more affordable lifestyle opportunities for many Australians.
“Victoria’s regional businesses are also well-positioned to capitalise on increased migration with growth in industries like agribusiness, logistics, healthcare, and education set to benefit from demand.”
The report also revealed that 35.6 per cent more people were moving from capital cities to the regions.
“Regional Australia is truly the nation’s new frontier,” Ms Ritchie said.
“There are so many opportunities in our regional communities, but likewise we know there are challenges.
“Housing, for example, remains a key ongoing concern in many communities.
“Regional Australia is growing and for that to continue we need adequate foundations. The time to lay them is now.”