The Gold Coast remains the most popular place in the whole country for people to move to from capital cities.
According to Regional Australia Institute’s Regional Movers Index, 11 per cent of all people moving from capital cities to regional areas in the 12 months to March made the Gold Coast their new home.
This was followed by the Sunshine Coast, Greater Geelong, Wollongong and Newcastle.
ARTICLE CONTINUES AFTER THIS ADVERTISEMENT
The number of people migrating to the Gold Coast from capital cities was up 27 per cent in the first three months of this year.
Surprisingly, millennials, not baby boomers accounted for the majority of people moving here.
The average age of people moving to the Coast from capital cities was 33 years old.
“Regional living is attracting more young people and particularly younger families who are looking for bigger living spaces at a cheaper cost,” Regional Australia Institute CEO Liz Ritchie said.
“Millennials and Gen-Xers were welcome additions to any regional community as they often bring with them business skills to grow the local community, as well as families who integrate into the local school system and community sporting activities.”
Sydney and Melbourne accounted for the biggest number of people fleeing our major cities with most of those heading to regional NSW, Queensland, and Victoria.
But there is growing concern that the influx of city migrants will only put further strain on the Gold Coast’s already tight housing stock.
Rental vacancy rates are already as low as 0.4 per cent but are as low as 0.1 per cent in some suburbs including Southport.