Invest
Regional relocations continue at record rates
Australian cities are continuing to haemorrhage denizens at record rates.
Regional relocations continue at record rates
Even as lockdowns end, more and more Aussies are choosing to leave major cities like Sydney and Melbourne behind.
According to data released by Muval, present high levels of interstate and regional migration is unlikely to slow in 2022.
Muval CEO James Morrell said that there are no signs that Australia’s “Great Migration” will be slowing anytime soon.
He said that Muval has already seen a 160 per cent increase in people searching for removalists since July compared to last year and predicted a further 40 per cent growth over the next two months.
According to Muval’s data, Melbourne was the biggest loser here.
Over the 12 months prior to December 2021, the city recorded negative 54 per cent net migration.
For comparison, Sydney scored a similarly hefty negative 47 per cent.
The company said that, since lockdown restrictions were lifted in Victoria, it has seen a steady growth in Victorian’s looking to relocate elsewhere.
On the other side of the table, Brisbane proved a top performer with 78 per cent net migration for the 12 months prior to 30 November 2021.
Looking forward, Mr Morrell expects it to rise as pandemic-era barriers to interstate migration fall away.
“As border restrictions ease and hotel quarantine is removed for people moving interstate, we’ll see huge amounts of pent up demand released,” he said.
In anticipation of this, Mr Morrell said that Muval is looking to be ready for a potential uptick in demand.
“We’re preparing for a second boom in moves early next year by looking for more removalists, hiring additional customer service specialists and innovating our offering to make moving even easier,” he said.
Budget Direct’s Jonathan Kerr said that COVID-19 had exacerbated many of the stresses associated with moving but did little to deter it.
“The lengthy lockdowns in Victoria and New South Wales have accelerated people’s decisions to escape Melbourne and Sydney and move interstate,” he said.
According to research conducted by Budget Direct, one in five Australians moved home within the last 12 months and that one in three of those who moved said their decision was triggered by the pandemic.
With working remotely now more widely accepted, the more affordable housing markets of Western Australia and Queensland are becoming increasingly attractive – particularly among young Australians and first home buyers.
“Regional areas such as the Sunshine Coast and Cairns have seen unprecedented growth and there are no signs of the market slowing down soon,” he said.
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