New data highlights areas city-dwellers are moving to
Regional centres near major cities are seeing an increase in population growth across Australia with Sydney, Brisbane and Melbourne seeing the biggest movement.
The Australian Bureau of Statistics (ABS) and CoreLogic recently released figures on regional population growth for 2016/17 and the places that city-dwellers are moving to. Not surprising, the regional centres that are adjacent to the major cities are seeing the most increase in population growth. A trend that has been continuing for some time, fuelled by the spike in property prices in the major cities and many people looking for a lifestyle change.
According to CoreLogic and ABS, Newcastle, Illawarra, Australian Capital Territory and the Gold Coast are the front runners for the places that Sydneysiders are moving to. In Brisbane, people are making the move to the Gold Coast, Sunshine Coast, Wide Bay and Toowoomba. While Melbourne is seeing an increase in the Latrobe-Gippsland, Geelong, Hume and Bendigo regions, and people in Adelaide are making the move to the Barossa and Melbourne.
To learn more about this trend, see our market update from May 8, Market soften. Buyers look to regional areas.