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New research from NGM Group, the customer-owned bank behind Greater Bank and Newcastle Permanent, points to growing momentum in regional communities as more Australians look beyond the capitals for work and lifestyle opportunities.
According to a national YouGov survey, 72 per cent of Australians believe regional areas are attracting more highly skilled and professional workers than in the past. Meanwhile, 62 per cent of regional Australians said new people have moved into their local community over the past year.
The survey also suggests Australians increasingly see regional areas not just as lifestyle destinations, but also as an important part of the country’s economic future.
James Cudmore, chief customer and digital innovation officer at NGM Group, said the findings pointed to a broader shift in how Australians view regional centres.
“We’re seeing a new kind of momentum in regional Australia, one driven by ideas, investment and skilled people making deliberate choices about where they want to live and work,” Cudmore said.
Brokers seeing city buyers move regional
Duane Mengel, Mortgage Choice broker for Coffs Harbour and finalist for The Adviser’s Better Business Awards Best Regional Broker award, said he had seen a noticeable increase in buyers relocating from metropolitan areas.
“Many are in their late 20s–40s with young families who are looking for a better lifestyle, good schools, and a connected community.
“Affordability is a major driver for these buyers because they find they can afford to purchase a better home in a great location than they could in a metro area.”
Corey Goldby, managing partner of Source Financial and another Better Business Awards finalist, said that around half of the local clients he works with are from the cities.
He said: “A lot of them have done well in cities like Sydney and sold. The roles seem to be a lot of engineers, doctors who work online or on the phone, lawyers, people who would only need to go into the city once every few weeks or so.”
Remote work and investment driving the shift
The survey also found Australians cite more affordable housing (40 per cent) and the growing acceptance of remote or hybrid work (31 per cent) as key factors behind the shift toward regional living.
Mengel said flexible work arrangements were enabling more professionals to make the move.
“Many young professionals make the move who have the flexibility to work remotely. Coffs Harbour was one of the first places the government rolled out fibre NBN to homes in Australia, which has made working from home far more practical.”
Goldby said many relocators in Port Macquarie were already on the property ladder and often arrived with strong financial positions.
While affordability is often cited as a key reason for moving, Goldby said many professionals arrive with strong incomes and deposits and are already looking to invest.
“We have a lot that have sold well in the city and have then bought with very little debt, and have gone big on investing,” he said.
“I’ve actually had clients that have sold in Sydney, then actually rented here for the last few months and kept buying investments. Only now are they starting to think about owner-occupier.”
Lifestyle and community appeal
Among city-based Australians, nearly half (47 per cent) said the prospect of regional living is highly appealing.
Mengel himself relocated to Coffs Harbour more than a decade ago to be closer to family.
He added: “The sense of community here is incredibly strong, the schools are excellent, and it’s the sort of place that made us feel like we were part of something. I think that combination of lifestyle and community is exactly why so many are choosing to make the same move.”
Goldby moved from Sydney to Port Macquarie in 2020 to set up his own brokerage.
In setting up Source Financial, however, Goldby noted that many professionals take their brokers from the city with them.
He said: “I think there’s been a perception that a Port Macquarie broker’s not going to be as good as a Sydney broker. It may be wrong, but it’s a mentality.
“I moved here from Sydney, so I was known as the Sydney guy, and that got me a bit of business, but it’s interesting that it carries that level of legitimacy.
“Once they’ve been here for a while, they tend to work with us, the shift changes and people who have been here for a while understand it. Particularly for investors, people feel like they don’t know what to do. They just invest, and they see the broker out there that knows that side of things, and word kind of gets around.”
[Related: Lower-priced homes surge as first home buyers chase 5% Deposit Scheme]