[1] rss — Priced out of paradise: Why more Australians are moving south. The great rush northwards to the sunshine and beaches of Queensland may finally be coming to an end as the state’s property market becomes too expensive and Australians start to rediscover the joys of Melbourne.
New figures reveal that for the first time since the COVID pandemic, more people are heading to Victoria than leaving the garden state, with Melbourne attracting its largest influx of interstate migrants in six years.
Queensland, with its relatively cheap property, has been a destination for many NSW and Victorian residents for decades. This accelerated during the pandemic.
Over the past five years, Queensland added almost 500,000 residents, of which 167,400 came from other parts of the country. By contrast, Victoria added 436,000 people but lost 81,690 to other states and territories, while NSW added 467,200 residents in total while losing a net 153,470 to the rest of the country.