Australians are leaving Sydney but avoiding Gold Coast, Perth

Many Australians are leaving Sydney due to high living costs. However, fewer are moving to popular spots like the Gold Coast and Perth. High overseas migration is adding to the housing strain, pushing Sydney residents to find cheaper options in other states. In the year ending September, over 29,000 people left New South Wales, but the rate decreased and was the lowest since mid-2022. Meanwhile, around 28,800 people moved to Queensland from other states. However, the number moving to Queensland dropped recently, reaching its lowest level since March 2020. Victoria is experiencing some growth too, with 882 new arrivals from other states over the year. This state also welcomed about 112,000 overseas migrants, second only to New South Wales, which saw 120,000. In contrast, Queensland had around 64,000 new arrivals from abroad. Western Australia has the highest population growth rate at 2.5%, but it is also seeing fewer interstate migrants. Just 1,469 people moved there in the recent quarter, the lowest since September 2021. Overall, New South Wales has been dealing with an ongoing exodus since 1981, similar to past situations when economic conditions were tough. The nation’s population has grown sharply over the past two decades. The influx of overseas migrants has raised concerns about housing availability. Critics argue that high immigration levels are straining housing and services. States with high interstate migration have low rental availability, with Perth at just 0.6% and Brisbane at 1%. This is lower than Sydney and Melbourne, where availability rates are also tight. House prices in these growing states are rising quickly, with Perth seeing a 13.9% increase over the past year. Some areas, like Tasmania, are seeing exoduses despite low rental vacancies, highlighting the complex housing landscape across Australia.