Tasmania has emerged as a major drawcard for Australians seeking a sea change, with three regions on the island ranking among the nation’s fastest-growing areas for internal migration.
The latest Regional Movers Index reveals Latrobe, Devonport and the Huon Valley recorded the second, third and fourth strongest annual net migration growth nationally.
They collectively experienced a five-fold increase in net migration over 12 months.
Regional Australia Institute CEO Liz Ritchie said the data shows a shift in Australian migration patterns towards the cooler southern states.
“We are seeing interesting moves in the southern states with Victoria’s Wodonga seeing the strongest annual net migration growth, while three Tassie spots … ranked second to fourth,” Ritchie said.
The report, a partnership between the Regional Australia Institute and Commonwealth Bank, shows capital-to-regional relocations outpaced moves in the opposite direction by more than one-third (36%).
North-west Tasmania in particular is positioning itself as a growth region, according to Commonwealth Bank’s Executive GM of Regional and Agribusiness Banking Kylie Allen.
“North-west Tasmania is positioning itself as a growth region, with ongoing investment in infrastructure upgrades and economic development initiatives,” Allen said.
“Coupled with a strong base of established industries, particularly the agriculture sector, its strategic port position and easy access to Tasmania’s stunning landscapes, the region is an increasingly compelling place to work, live and invest.”
While Queensland’s Sunshine Coast remained Australia’s most popular destination with the largest share of net internal migration at 8.8%, the strong performance of Tasmania’s regions signals a diversification.
The index also revealed that Sydney and Melbourne residents made up the bulk of those relocating, accounting for 53% and 33% of net outflows respectively.
