City exodus: four in ten eye a move to regional Australia

Date:

Share post:


Four in ten city residents are now considering a move to regional Australia, as new research reveals mounting pressure on regional communities to keep pace with unprecedented population growth.

The Regional Australia Institute’s (RAI) latest survey shows regional relocation interest has doubled from 20 per cent to 40 per cent in just 18 months, creating significant challenges for regional infrastructure and services.

The surge comes as key regional metrics show concerning trends, with rental vacancy rates dropping to 1.3 per cent and building approvals declining by 9.4 per cent over the past year.

RAI CEO Liz Ritchie said the findings should serve as a wake-up call for policymakers.

“Many regions are already struggling with housing, particularly rental markets, and until region-specific policy measures are put in place, this will only be further magnified,” Ms Ritchie said.

The research revealed significant pressures in areas like Far North Queensland, where population growth has reached 5.2 per cent over five years.

“In Cairns, the rental market remains tight – over the past 50 months since July 2020, 40 of those months recorded a vacancy rate of no higher than 1 per cent,” Advance Cairns CEO Jacinta Reddan said.

The research also highlighted workforce challenges, with 76,000 jobs currently available across regional Australia.

Despite some positive trends, including increased medical practitioners and easier recruitment, Ms Ritchie said there was a need for comprehensive planning.

“The RAI is calling for a long-term plan for regional Australia’s future that considers population movement, the skilled workforce requirement, service provision and infrastructure needs,” Ms Ritchie said.

“A place-based decision-making model, that would enable regions to have a greater say on how federal, state and territory government funding is spent is also critical,” she said.



Source link

Nicole Lambert
Nicole Lambert
Nicole Lamber is a news writer for LinkDaddy News. She writes about arts, entertainment, lifestyle, and home news. Nicole has been a journalist for years and loves to write about what's going on in the world.

Recent posts

Related articles

‘Mum and Dad’ investors the key to affordable housing

Small-scale property investors could play a big role in addressing Australia’s affordable housing crisis, according to new...

UK renters face 18% hike by 2029 amid housing supply challenges

Rents in the UK are projected to increase by nearly 18% over the next five years, according...

How I Sold It: from plain to powerhouse

By the time the marketing campaign for 57 Goldsmith St, Elwood, was complete Chisholm & Gammon Managing...

Changing perceptions, new strategies: how businesses can help property managers

Property Managers are no longer the young and inexperienced “poor cousins of sales” and neither are they...

Ray White Northern Beaches expands with ninth office

David Walker and Charles Caravousanos have expanded their footprint on Sydney’s Northern Beaches, acquiring Hunter Estate Agents...

NAR’s REACH program crowned top PropTech accelerator

The National Association of Realtors’ (NAR) REACH technology growth program has been named PropTech Outlook’s 2024 Accelerator...

New home sales lift as market rebounds

New home sales jumped in October, with an 8.8 per cent increase compared to September, signalling a...

REINSW calls for clear expectations in planning reform

The Real Estate Institute of NSW (REINSW) has cautiously welcomed the state government’s new Housing Delivery Authority. However,...