The number of people moving to regional areas rose by 16.6 per cent to reach a new five-year high in the March quarter, almost doubling pre-pandemic levels.
Regional Australia Institute (RAI) Chief Executive Officer 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.
“Regional living is attracting more young people and particularly younger families who are looking for bigger living spaces at a cheaper cost,” Ms Ritchie said.
Commonwealth Bank Regional and Agribusiness Banking Executive General Manager Paul Fowler said regional areas are providing attractive local employment opportunities.
“Regional Australia is thriving, fuelled by strong investment across a broad range of industries including agriculture, manufacturing, retail and hospitality,” Mr Fowler said.
“There are labour shortages in many parts of regional Australia and local businesses are attracting skilled and unskilled workers to increase capacity and serve growing demand for products and services.”
Demand for housing is soaring, particularly in South Australia where regions such as Ceduna, Mount Gambier and Port Augusta feature as the top three local government areas with the biggest growth rates in the 12 months to March 2022.
“Mount Gambier is perfectly positioned between Adelaide and Melbourne with wonderful amenities and work opportunities in a diverse range of industries including manufacturing, agriculture, civil construction and wholesale retail,” Mr Fowler said.
There was a significant jump in regional movers to Ceduna of 114 per cent, in the 12 months to March 2022. Growth in Mount Gambier and Port Augusta was also high, at 85 per cent and 74 per cent respectively. In other states, Moorabool in Victoria and Western Downs in Queensland experienced substantial growth rates of 56 per cent each.