People on the move but more people staying put, too

New interstate migration figures show people are moving but also staying put which, admittedly, does sound like an oxymoron.

Drill deeper though and it’s clear, nearly a year on from the pandemic hitting our shores, that where people are choosing to live is changing in a big way.

The Australian Bureau of Statistics provisional regional internal migration estimates for the September 2020 quarter found that about 76,000 people moved interstate over that three-month period.

However, that figure wasn’t as high as it was the year before – which might surprise some people.

Indeed, the number of interstate movers in that quarter was the lowest since the September 2014 quarter.

That said, some locations saw a drastic increase in the number of people leaving, or arriving, with Queensland gaining the most people from net interstate migration (up 7,200) and New South Wales losing the most (down 4,100).

It was predominantly Sydney and Melbourne that experienced the greatest loss of residents over the quarter, with many people relocating to regional areas within the same state or elsewhere around the nation.

Indeed, in the September quarter there was a net loss of 11,200 people from Australia’s greater capital cities through internal migration, which was a larger net loss than in the previous quarter (-11,000) and the September 2019 quarter (-5,600).

According to the ABS, the net loss was the result of 41,800 arrivals (down from 46,800 in the September 2019 quarter) from, and 53,000 departures (up from 52,400 in September 2019) to, non-capital city areas.

The data also showed that fewer people are leaving smaller capital cities such as Brisbane, Adelaide, or Perth for the “big smoke” of the southern capitals.

This phenomenon has likely only just begun, with more and more people able to work from home wholly or partially in the future, which is opening up the opportunities of where people can, and will, live.

The reduction in people leaving some locations, coupled with the increase in arrivals, is part of the reason for the significant constraints on property supply under way in many locations at present.

For example, in Brisbane, the volume of available listings is down an astonishing 28 per cent compared to the previous year, according to CoreLogic.

We are working with more and more clients who have missed out on purchasing a property in their chosen investment location one too many times.

So, they are engaging us to help them achieve their goals sooner rather than later by using our strong network of sales agents around the nation, worried that may miss out altogether.

The strong demand for property from buyers is expected to ramp up throughout this year, partly due to the historically low interest rates that will continue to be on offer for a number of years to come.

Plus, when you couple that with the low volume of available listings, location selection becomes even more imperative – especially in areas that are shedding residents rapidly.

None of us know what the future holds with any real certainty, but it’s clear that smaller capital cities together with larger regional locations are set to welcome the lion’s share of new residents – and enjoy the possibility of superior capital growth along the way, too.

High-Performance Property Investment in
5 Simple Steps

In this free guide, you will learn how to Implement the same strategies that led me to build a $3.5 million dollar portfolio in less than six years. – Daniel Walsh

Related Post

PRIVACY POLICY

Respecting your Privacy

Your Property Your Wealth Pty Ltd (YPYW) is committed to supporting the Australian Privacy Principles for all fair handling of Personal Information which set clear standards for the collection, use, disclosure, storage of and access to Personal Information collected during the course of business operations and compliance with the Privacy Act 1988 (Commonwealth) and its amendments (the Act), and the Australian Privacy Principles (APPs) set out in that Act. You can see the full text of the APPs online at the Office of the Australian Information Commissioner’s website at:

http://www.oaic.gov.au/privacy/privacy-act/the-privacy-act

Personal Information means your name, mailing or residential address, telephone number, email address and other transaction and registration details including the company you work for and your role and financial information, including credit card information and information collected from credit reporting agencies.

Our respect for your rights to the privacy of your personal information is paramount.  We have policies and procedures in place to ensure that all personal information, no matter how or where it is obtained, is handled sensitively, securely and in accordance with the APPs.

This Privacy Policy sets out:

  • What sort of personal information is collected and stored;
  • How information is collected and used;
  • What happens if you choose not to provide the required information; and
  • How you can request access to the personal information we hold about you.

From time to time it may be necessary for YPYW to review and revise this Privacy Policy. We reserve the right to change our policy at any time. Amendments or replacements of the Privacy Policy will be posted on our website.

Collection of Your Personal Information

We only collect personal information relevant to our business relationship with you so that we can provide our services and products. We may collect your personal information:

  • directly from you including via telephone, email or facsimile;
  • when your register on our website;
  • when you place an order or service request with us;
  • where you access and interact with our website;
  • from other sources including a third party such as credit reporting; and
  • any correspondence we receive from you.

Is your personal information secure

Where you submit personal information, we manage it by using up-to-date techniques and processes that meet current industry standards to ensure that your personal information is kept secure and confidential. We also take measures to destroy or permanently de-identify personal information if it is no longer required.

Use and Disclosure of Personal Information

You acknowledge and consent that by providing your personal information to us that we may use and disclose your personal information for the purpose for which it was collected or for a related or ancillary purpose such as:

  • supply of our services and products to you in accordance with our Terms and Conditions and any agreement entered into with you, to facilitate, process, carry out and respond to your request;
  • to our third party service providers to assist us in providing and improving our services and products to you and developing, improving and marketing our services and products to you;
  • for regulatory reporting and compliance with our legal obligations, to various regulatory bodies and law enforcement officials and agencies to protect against fraud and for related security purposes;
  • to the seller or supplier of any products to you for the purpose of ascertaining and obtaining any information required to perform our services for you;
  • to identify you and conduct appropriate checks, including credit checks;
  • set up, administer and manage our services and products and systems, including the management and administration of an account;
  • to train and develop our staff to better provide services to you;
  • to contact you; and
  • to our successors and/or assigns

What happens if you do not want to disclose personal information?

You have no obligation to provide any personal information requested by us, but if you choose to withhold personal information, we may not be able to provide you with the products and services that depend on the collection of that information.

Removing your personal information

You may contact us at any time in writing and request that we remove and delete your stored personal information.

Providing Personal Information About Another Person

You represent to us that where you provide personal information to us about another person, you are authorised to provide that information to us, and that you will inform that person who we are, how we use and disclose their information, and that they can gain access to that information.

Linked Sites

YPYW’s website may contain links to websites which are owned or operated by other parties. You should make enquiries as to the privacy policies of these parties. We are not responsible for information, or the privacy practices of such websites.

How can you access your personal information?

You may in writing request access to personal information that we hold about you. We will provide you with access to personal information in accordance with the Act and APPs and we may not grant you access to the personal information that we hold where the APPs allow us to do so. If you are refused access to information, we will provide you with reasons for the refusal in writing.

How to contact us

If you have any questions in relation to privacy, please contact us on 0490 912 045 or email Daniel Walsh – admin@ypyw.com.au. For more information about privacy law please visit http://www.oaic.gov.au/privacy.

High-Performance Property Investment in 5 Simple Steps

In this free guide, you will learn how to Implement the same strategies that led me to build a $3.5 million dollar portfolio in less than six years. – Daniel Walsh

Download eBook