The recent mass interstate exodus by Victorians is continuing, with annual totals now at the highest levels since the recession of the early 1990s.
By contrast, interstate migration into Queensland continues to rise, with that state remaining clearly the most popular destination for relocating Australians
The ABS reports that Victorian net interstate migration fell by 18,300 over the year ending June 2021 – the lowest result since the year ending September 1995.
Queensland however recorded an annual increase in net interstate migration of 30,939 which was the highest result for that state since March 2005.
- Also read:Exploring the link between population growth and property prices
- Also read:Australian unit market update June 2022
- Also read:Here is what we have been buying over the last 12 months
- Also read:EXPLAINER: New home buyer scheme helps frontline workers get into the property market
- Also read:Number of profitable property resales takes first dip in 18 months | Corelogic Pain and Gain Report
Victoria also reported the highest loss in total net migration over the year ending June 2021 - down by 74,388, with NSW next, falling by 22,147.
All other states reported increases in total net migration over the year.
Short-term sharp shifts in migration have implications for housing markets with significant changes in demand impacting rents and prices.