Breaking Free of the Housing Squeeze and Moving to Greener Pastures

Must Read

According to a new report, there is no stopping the influx of movement from Australia’s cities to rural areas and within regional locations.

A new report says that the migration of citizens from capital cities to regional Australia is still significantly high compared to pre-pandemic levels in 2018 and 2019 – approximately 16 per cent greater. This trend shows no sign of slowing down as we move into 2022.

Data from the Regional Movers Index report demonstrates that movement between regional areas elevated in 2022, on average 8% higher than before the pandemic’s onset.

Analysts attribute the shift to two main factors: a lack of housing affordability and job opportunities.

In the December quarter, region-to-region migration increased by an impressive 2.2%, making it second only to pre-pandemic levels.

According to the Commonwealth Bank and Regional Australia Institute’s Index, a quarterly report released on Tuesday, the post-pandemic housing market disruption was deemed responsible for the rise in property prices.

These interruptions are detrimentally impacting housing and rental costs, particularly for regional inhabitants of lower incomes who until now had access to reasonably priced dwellings.” the report said.

“The growing number of individuals moving between regions is likely due to their need for more accessible and budget-friendly housing options elsewhere.”

Fraser Coast, Bundaberg, Toowoomba, and the Sunshine Coast in Queensland have been top destinations for Australians from rural areas looking to move. Maitland in New South Wales has also seen an influx of people relocating there.

Victoria’s Ballarat saw the most substantial influx of out-of-towners. At the same time, Townsville, Rockhampton and Gladstone in Queensland and Murray Bridge in South Australia rounded out the regions experiencing significant population growth.

Paul Fowler, head of regional and agribusiness banking for Commonwealth Bank, noted that although a lack of housing availability may drive people away from rural areas, the strong labour market attracts country residents.

“Regional Australia is still experiencing record high levels of job vacancies, making it a great time to consider new opportunities,” Mr Fowler said.

“If you’re aiming to move to a different Local Government Area, productive employment opportunities are abundant for nearly any skill set or occupation.”

Australians are taking advantage of the opportunities presented by relocating to different areas of Australia in search of more affordable housing and better job prospects. With regional areas experiencing strong labour markets and record-high job vacancies, country living is an attractive option for many people looking for a change.

- Advertisement -spot_img
Latest News
- Advertisement -spot_img

More Articles Like This

- Advertisement -spot_img