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Over the June quarter, there were 26 per cent more people moving from the cities to the regions than the other way around.
As highlighted in CBA’s Regional Movers Index, 11.2 per cent of all movements in Australia were to the regions, while 8.9 per cent were to cities.
The top five regions for migrants, along with the total percentage of internal migration, were:
- Sunshine Coast (8.9 per cent)
- Greater Geelong (8.5 per cent)
- Lake Macquarie (4.7 per cent)
- Maitland (3.2 per cent)
- Fraser Coast (3.2 per cent)
Albury also proved to be a popular option for city leavers, with annual growth in net capital-regional migration of a whopping 1,520 per cent.
Despite the continued migration of people out of Australia’s cities, rates have slowed.
The flow of people leaving cities for the regions has fallen to its lowest level since the December 2019 quarter – just before the pandemic.
The Regional Movers Index dropped by 19.3 per cent over the June quarter and is now 16.5 per cent lower than this time last year.
While migration from the cities has remained high since the beginning of COVID-19, the recent fall is due to “reduced mobility,” said CBA.
The major bank has partnered with Regional Australia Institute (RAI) to push infrastructure development in the regions and support the influx of migrants from cities.
CBA and RAI have called for the appointment of a regional housing commissioner and for 40 per cent of the National Housing Accord’s 1.2 million homes (480,000) to be built in regions.
According to RAI’s Answering the Call for Regional Housing report, the aspirations of Aussies to move to the regions are being hindered by a lack of infrastructure and housing.
“People and businesses are embracing the lifestyle, community and opportunities offered by our regions and they are making the move. What should be a time of renewal for regional Australia is being challenged by widespread housing pressures arising out of significant shortages and structural barriers. While it is still generally more affordable to a buy home in regions than in the capitals, this advantage is waning,” read the report.
The report says that a “one-size-fits-all” national approach fails regions. It calls for a fundamental shift in governance and policy to include dedicated, place-based responses for regional Australia.
The regional housing challenge is profound but not insurmountable. It requires a co-ordinated, multi-pronged effort across all levels of government, industry, and communities.
