Australians Flight Out of Capital Cities to Find Affordable Homes

The Australian Bureau of Statistics (ABS) recently released report for regional population and migration data for 2016-17 indicates that Australians living in capital cities have chosen to re-locate throughout the 2016-17 financial year in order to find cheaper alternatives, according to mortgagebusiness.

According to the report, over 40,000 Sydneysiders have sought alternative living arrangements outside of Sydney with other key regions being impacted as follows:

“• 7,259 former Melbournians moved to Victoria’s Latrobe-Gippsland
• 8,834 former Brisbane residents moved to Queensland’s Gold Coast
• 3,741 former Adelaide residents moved to the south-eastern South Australia
• 4,403 former Perth residents moved to Bunbury, Western Australia
• 3,273 former Canberra residents relocated to NSW’s capital region
• 1,007 former Hobart residents moved to Tasmania’s south-east
• 948 former Darwin residents moved to outback Northern Territory”

This quote/excerpt & article was sourced from mortgagebusiness. For full article, click here.