Geelong sees an increase in newcomers from Capital Cities – Realestate.com.au

This year, Geelong has increased nearly 20 percent of the number of people moving from other parts of Australia to the region this year.

The latest CBA Regional Australia Institute Regional Movers Index revealed the annual jump of 19.2 percent in migration to Geelong from capital cities and other regional areas.

But Greater Geelong fell to second place between the most popular destinations behind the Sunshine Coast of Queensland.

The report showed that Geelong took a share of 8.4 percent of people movement to regional areas, while the Sunshine Coast reached 8.9 percent.

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It turned the result from March, where Geelong was the most popular destination.

The report has net internal migration, including the flow of people from other regions and capital cities, minus the number of people leaving a region.

It revealed a decrease of 15 percent in the overall relocations in the three months to June, although the flow of people to regional areas was 26 percent higher than people who were in reverse way.

The Index shows how many people are leaving the large capital cities, the regional population groups, with data from the Australian Bureau or Statistics data that demonstrate the Sunshine Coast, Geelong and the Gold Coast, the fastest growing areas in Regional Australia.

While overseas migration was the most important contribution to the Gold Coast and had some influence in Geelong and the Sunshine Coast, internal migration was the biggest contribution to the latter.

Geelong accounts for 40 percent of the regional population growth of Victoria in 2023-24, the ABS reports.

Geelong accounts for 40 percent of migration in regional Victoria. Photo: Alan Barber

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Jellis Craig Geelong -director Marcus Falconer said that people left Sydney and Melbourne for a better lifestyle.

“We have had many people who are actually sick of traffic in Melbourne. And the crime,” said Mr. Falconer.

“Geelong has one of the largest concentrations of schools per head of the population, one of the largest health districts in Australia and you are moments of one of the best surfing beaches in the world.

“It is the ultimate lifestyle position and it is an easy living work to Melbourne if you work from there.

“But it has its own professional workforce because the economy is moving forward at a speed of knots.”

Jellis Craig Geelong agent Marcus Falconer said people leave the big cities for a better lifestyle.

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Mr. Falconer said that the emerging population also went to the region interstate’s real estate investors, since house prices in Sydney, Queensland and Perth had continued to rise while Victoria has remained moderate for the past two years.

Proptrack’s newest house price index has shown the results of the rising demand from the buyer.

Senior economist Eleanor Creagh said that the acceleration of house prices was partially powered by the lifestyle in the region that drove above average city to regional migration to Geelong.

“That value migration story that question patterns really reformed during the Pandemie is still resonating with affordability on or close to historically low levels. Many choose to become more flexible with location,” she said.

Regional Australia Institute Chief Executive Officer Liz Ritchie, second right, said that moving to Regional Australia is a smart choice. Photo: Jonathan Ng

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Sydney accounted for 60 percent of regional movers, with 35 percent Melburnians.

Regional Victoria accounted for 23 percent of the net migration of capital cities.

The best performing centers in the quarter of June include Albury, which had a 16-fold increase in migration, Bendendo and Shepparton, who attract new residents with their affordability, lifestyle and opportunities.

“Regional Australia is no longer a second choice – it is the smart choice. From career opportunities to community connection, the regions deliver,” said Liz Ritchie, CEO of the Regional Australia Institute.