REGIONAL Queensland continues to attract the lion’s share of Australia’s internal movers despite a lack of housing slowing down the great migration from capital cities, a new report has revealed.
The latest Regional Movers Index by the Regional Australia Institute (RAI) and the Commonwealth Bank revealed that the Sunshine Coast (17%) and Gold Coast (9%) recorded the biggest share of net internal migration during the 12 months to June, but both recorded falling growth (7% and 55% respectively) compared to the same period a year ago.
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The Fraser Coast also continues to attract new residents from both the cities and other regions with 6 per cent of movers relocating there.
Four per cent of people migrating are heading to Bundaberg, while 3 per cent are shifting to Toowoomba and Mackay.
Meanwhile, two per cent are relocating to Cairns, Townsville, South Burnett, Livingstone, Gladstone.
“Migration flows to regional areas were up more than 16 per cent in the June quarter compared to the same period in 2018 and 2019, revealing a continuing pattern of more people moving to regional areas from cities than the opposite direction”, the report said.
However migration flows between regions has retreated back to levels reported at the end of 2022 after reaching “historic highs” in the last quarter.
“This 9.8 per cent fall in region-region migration followed the typical seasonal pattern observed in the June quarter, with the average June dip (over the timeseries) standing at 9.3 per cent,” the report said, adding that regardless, migration remained “elevated”.
“Although not explicit in the data, the lack of regional housing is likely to be playing a role in the decline in the total number of movers this quarter, with the number of capital to regional movers also down,” it said.
The report comes after the latest PropTrack Listings Report revealed that the number of properties on the market across much of Queensland remains challenged despite buyer activity remaining elevated.
“Regional Queensland saw activity pick up a bit in June, with 5.8 per cent more new listings than in May,” PropTrack economist Angus Moore said.
“But, like Brisbane, activity in 2023 has not kept pace with the busy market conditions seen in 2022, and new listings were down 20.4 per cent compared to a year ago.
“Unfortunately for buyers, choice in regional Queensland remains restricted, with a slight further decline in June (-0.2% month-on-month).
“That means the total number of properties listed for sale across regional Queensland is down around 45 per cent compared to pre-pandemic levels.”
But it would seem the appetite for real estate in Queensland’s regional areas continues.
RAI CEO Liz Ritchie said that further data from a large-scale survey showed the pull of the regions was growing, with people seeing country communities as offering a happier, cheaper and better quality of life.
“In 2020, 67 per cent of people thought regional living would give them more time for themselves,” she said.
“In 2023, this jumped to 74 per cent … at the same time, net dissatisfaction with city life is up, and more people are now worried about cost-of-living pressures in the city.”
Queensland proved the most attractive place for city dwellers moving to the regions, accounting for 41 per cent of net capital outflows in the 12 months to June 2023 – up from 33 per cent the previous year.
“Sydney remained the largest population shedder, accounting for 94 per cent of capital city net outflows in the 12 month period to June 2023, up from 66 per cent a year ago,” the report said.
“In contrast, Brisbane and Perth continued to attract strong net inflows from other capital cities and regions, in the vicinity of 15 and 13 per cent, up from the 10 per cent share they both held in the 12 months to June 2022.”
Three out of the top five regional centres for net internal migration in Australia were in Queensland – the Sunshine Coast, Gold Coast and Fraser Coast.
Greater Geelong and Moorabool, both in Victoria, rounded out the top five list.
“The Sunshine Coast topped the list for the third consecutive quarter, with a 16.6 per cent share of all net internal migration flows – of which, more than three quarters came from capital cities” the report said.
“The Gold Coast swapped places with Greater Geelong to come in second spot, with a 9.4 per cent share of net internal migration – despite a small outflow to other regions.
“Queensland’s Fraser Coast again came in fourth, with inflows evenly sourced from capitals and regions.”
And there were two Queensland locales in the top five places experiencing the largest growth in net migration away from the capitals – Livingstone and Mackay, up 117.6 and 81.5 per cent respectively compared to a year ago.
For those moving from one region to another, Queensland had four out of the top five locations for movers – Sunshine Coast, Fraser Coast, Toowoomba and Bundaberg, with Greater Geelong in fifth position.
The findings mirror analysis by Little Hinges, a virtual inspection platform, which revealed Queensland was the most sought-after place to live for both buyers and renters.
In its latest Sight Unseen report, the research found that properties on the Gold Coast, Sunshine Coast and Brisbane attracted the most eyeballs from interstate buyers, mostly from NSW and Victoria.