Millennials now complete with Boomers for regional hegemony
LONDON: Far from retirees moving to the regions to seek a quieter post-work life, it is millennials leading the charge.
Half of those moving out of capital cities into regional areas are aged 24 to 40, chasing better bang for their property buck and fast-tracking their careers in a vibrant jobs market.
New data from the Regional Australia Institute finds the number of people moving to regional areas rose 16.6 per cent to reach a five-year high in the March quarter, almost doubling pre-pan- demic levels. There has been a steady climb since 2018, accelerated by the Covid-19 pandemic.
The Regional Movers Index, a collaboration between the RAI and Commonwealth Bank and using de-identified banking data of more than 10 million CBA customers, for the first time examined the demographics behind those moving from capital cities to the regions, finding millennials accounted for 50 per cent of all moves.
Gen Xers, those aged 40-56, were the next largest cohort ditching the city for the regions, accounting for 18 per cent in total.
“Regional living is attracting more young people and particularly younger families looking for bigger living spaces at a cheaper cost,” RAI chief executive Liz Ritchie said. “And there are fantastic opportunities for rapid career advancement in the regions. Right now, around 86,000 jobs are available in regional areas, and many of these are more sophisticated opportunities than people in the cities might think.”
“Our research shows city dwellers want more space, more amenity and more time with friends and family, and to leave behind stress, anxiety, congestion and high levels of debt.
“It stands to reason they are following through and making the move,” Ms Ritchie said.
Daniel Fletcher, 34, took his young family from Darwin to Dalby in Queensland’s Western Downs three months ago, accepting a position as general manager of community and liveability in the regional council.
He had previously lived in Melbourne and Brisbane.
Mr Fletcher saw an opportunity to advance his career, enjoy a more family-friendly lifestyle and live in a house of a standard he could not afford in the city.
“Out here we call it the one-song commute,” he says. “It’s one song in the car from work to home..”
Mr Fletcher bought a four-bedroom, two-bathroom house in Dalby for about $500,000. “That wouldn’t even pay for the land in Brisbane,” he said.
And working in the regions offered him faster career progression. “I would have taken another 15 years in a big city council to get the level of job I have here.”
Sydney and Melbourne had the biggest outflows, the data showed, with most people heading to regional NSW, Queensland and Victoria.
The Gold Coast continues to be the favoured destination for those leaving capital cities, attracting 11 per cent of all movers in the 12 months to March.
The Sunshine Coast, Greater Geelong in Victoria, and Wollongong and Newcastle in NSW were next most popular.
Other areas with significant jumps in new arrivals from the capital cities are Ceduna, Mount Gambier and Port Augusta in South Australia, the Moorabool region in Victoria and the Western Downs in Queensland.
