Metro millennials are fleeing Aussie cities in colossal numbers

Metro millennials are fleeing to country and coastal areas at a rate 20 per cent above pre-pandemic levels.

The Sunshine Coast is the most popular destination for internal migration, according to the data from the Regional Australia Institute.

Sydney has the greatest number of people leaving.

Twenty-four per cent more people are going from cities to regional zones than the other way around, and the volume has spiked in the first three months of this year, to the fifth highest quarterly rate in six years.

The Gold Coast (9.1 per cent net internal migration) was the second-most popular place for city movers, followed by Geelong (Victoria, 6.3 per cent), Moorabool (Victoria, 5.5 per cent) and the Fraser Coast (Queensland, 4.4 per cent).

The Sunshine Coast has been the number-one destination for Aussie movers for six quarters, the report shows.

A “societal shift” is underway, the researchers found, speared by young Aussies born between 1981 and 1995. They are setting down roots in regional zones more than any other buyer bracket, the RAI’s Regional Movers Index for March 2024, found.

Millennials from Sydney are going to the Gold Coast, Wollongong and Newcastle. In Sydney, 7.3 per cent of net internal migrants are millennials, versus Gen X at 1.2 per cent and Boombers at 0.8 per cent.

In Brisbane, millennials are flying the coop to live on the Gold Coast, the Sunshine Coast and in Toowoomba. More than 51 per cent of net internal regional migration is from Brissie millennials.

That age trend is replicated in Adelaide, Melbourne, Perth and Hobart.

Postcodes within a 150km radius of CBD’s are the most sought after.

Quarterly data shows internal migration from metro regions to country Australia is at a 12-month high and 20 per cent higher than before COVID.

The Sunshine Coast captured 16 per cent share of Aussie net internal migration over the past 12 months.

“Sydney continues to be the nation’s biggest shedder of people, accounting for 67 per cent of net capital city outflows to the regions over the year to March 2024,” a statement from RAI said.

The movement of people escaping lockdowns, especially in Victoria were they were more frequent and for longer, was motivated by different reason to why buyers are leaving the big smoke today.

RAI chief executive Liz Ritchie said in a statement that this trend is a not a “flow-on effect” from the pandemic years.

Affordability is driving the wave of city slickers chasing a tree to sea change of scene.

“People are voting with their feet and making a very conscious decision to live in regional Australia.  Whilst the pandemic supercharged this movement, the regional lifestyle is continuing to prove highly desirable for thousands of people, especially those from cities,” Ritchie said.

“This movement in population can no longer be seen as a quirky flow-on affect from the lockdown years. A societal shift is underway. This sustained trend provides tangible evidence regarding the importance of investing in and supporting the regions, to ensure communities have the services, skills, and infrastructure they need for their growing populations.”

The research was conducted in partnership with the Commonwealth Bank.

Regional and Agribusiness Executive General Manager at the Commonwealth Bank, Paul Fowler, said that large regional centres are in buyers’ sights.

Price is a major factor.

“This quarter’s report paints the picture of younger individuals or younger families looking for somewhere that’s more affordable. Many are opting for the large regional centres which are buzzing with business activity and investment, offering a great range of employment opportunities,” Fowler said.

Fowler a move to the country can include a job that people want, “minus the big city problems” they don’t, including commuting, toll roads and traffic.

“People living in ‘commuter belts’, on the outskirts of major metropolitan cities, are relocating within a few years of moving there,” she said. “Often, they’re leaving the outer suburbs for big regional centres like the Gold Coast, Sunshine Coast, Wollongong, Newcastle, Geelong, Busselton, the Alexandrina region, and Launceston.”