The recent mass interstate exodus by Victorians is continuing, with annual totals now at the highest levels since the recession of the early 1990s.

By contrast, interstate migration into Queensland continues to rise, with that state remaining clearly the most popular destination for relocating Australians

The ABS reports that Victorian net interstate migration fell by 18,300 over the year ending June 2021 – the lowest result since the year ending September 1995.

Queensland however recorded an annual increase in net interstate migration of 30,939 which was the highest result for that state since March 2005.

Interstate Migration

Victoria also reported the highest loss in total net migration over the year ending June 2021 – down by 74,388, with NSW next, falling by 22,147.

All other states reported increases in total net migration over the year.

Short-term sharp shifts in migration have implications for housing markets with significant changes in demand impacting rents and prices.

ALSO READ: 2021: A year in review of our Property Market

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