Queensland’s Sunshine Coast has been dethroned after two years of topping the regional migration destination list by Victoria’s second city.
According to Commonwealth Bank of Australia’s Regional Movers Index (RMI), 9.3 per cent of total regional migration inflows nationally went to Greater Geelong during the year March, 2024 to March this year.
The Sunshine Coast attracted 8.9 per cent during the same period.
The index, part of a partnership between Commonwealth Bank of Australia and the Regional Australia Institute (RAI), analyses quarterly and annual trends in regional migration.
Victoria has garnered 34 per cent of the total net regional migration inflows across Australia for the March quarter, a 28 per cent increase on the same period last year.
Capital cities to regional area migration increased by almost 11 per cent over the quarter to sit at 20.5 per cent above the pre-Covid average.
Increased migration from the metropolitan areas to regional areas has driven the change.
Investment in the Geelong region had helped it along, CBA acting executive regional general manager Josh Foster said.
“This [growth] is underpinned by significant government and corporate investment in the region, including the Geelong Convention Centre that is due to be completed in 2026, and the Barwon’s Women and Children’s Hospital renovation and expansion, expected to be completed in 2026-2027,” he said.
“Geelong’s proximity to Melbourne’s CBD, airports, ports and freeways eases accessibility to and from the region and offers businesses an enticing proposition, enabling them to relocate or scale their operations, while benefiting from the area’s growing skilled workforce and steady dynamic economy.”
Within Victoria, the City of La Trobe and the City of Murrindindi had the highest average growth in total net internal migration inflows.
The statistics make the Victorian Government’s new homes target of 128,600 homes in Greater Geelong by 2051 all the more urgent.
“The nation’s love affair with regional life is showing no signs of abating with 25 per cent more people moving from capital cities to the regions, than back in the opposite direction,” RAI chief executive Liz Ritchie said.
“Net migration to regional Australia is now 40 per cent higher than the prevailing level in the pre-pandemic era.”
The index also showed Sydney continued to have the largest outflows, with 64 per cent of total migration for the quarter.
Regional NSW had the highest average net inflows at 40 per cent.
Regional Queensland inflows were at 17 per cent, down from 30 per cent in the March 2024 quarter.
Movement to Regional Tasmania has grown from 3 per cent a year to 3 per cent a quarter.
Queensland remains popular, according to Foster, with the Gold Coast, Townsville, Gladstone, Gympie and Fraser Coast all still migration destinations.
“Queensland’s warmer climate and generally more affordable housing in regional locations ensures that it remains a magnet for movers from Sydney and Melbourne,” Foster said.
“The growth in migration to the state is also due to significant investments in large industrial infrastructure projects related to resources and renewables, like the CopperString 2032 project due for completion in 2029.”
Victor Harbor in South Australia, and Denmark and Harvey in Western Australia were also popular.
“Regional Australia’s population is now sitting at 9.91 million people, and this data indicates that number will continue to grow,” Ritchie said.
