Australians are still keen on moving to the regions, with the latest Australian Bureau of Statistics figures showing regional population growth is now on par with that of capital cities.
The latest ABS Regional Population dataset has the first full year of population data after the 2021 Census and is the first set of data post the pandemic lockdowns.
The figures show population in both regional Australia and capital cities grew by 1.2% in 2022.
For capital cities this meant an additional 205,400 people, while for regional areas it equated to an additional 102,700 people.
Brisbane had the highest level of annual population growth, 2.3%, which equated to 59,156 people, buoyed particularly by a large influx of migrants from New South Wales.
Within the regions, Melton in Victoria is now the fastest-growing area in Australia, with a 6.4% annual increase in its population.
The total migration out of Melbourne and Sydney during the 2022 financial year was 78,000 people.
In terms of population drops, the biggest decline was in Brewarrina, New South Wales, which dropped 3.4% which equated to a loss of 1,438 residents.
Property analyst Michael Matusik says Australia is on track for net migration of more than 300,000 people this year which will lead to property price growth.
“Population growth is a key factor when determining underlying demand,’” he says.
He says prices are driven up by the increase in the number of people looking to buy property.
