Taking advantage of regional shift
In the September quarter, data from the Australian Bureau of Statistics show the majority of people leaving Greater Melbourne, head for a regional city centre.
Nationally, capital cities were also losing people to regional areas, the biggest quarterly movement out of metropolitan Australian on record.
In fact, migration out of Melbourne and Sydney almost doubled since the September quarter last year – before the arrival of the pandemic.
This migration was due to people realising more could be done beyond the city limits (like working from home), and because many had lost work, or experienced a reduction in hours.
Some regional centres have seen local house prices increase by 7.9 per cent over 2020. The biggest lift in 16-years. At the same time rental data showed a 7.8% drop in inner-city Melbourne rentals and a 5.6% decline in Sydney’s.
If you’re looking to employ new staff, invest and expand your business, there is no better time than now to take action.
In fact, a recent report comparing jobs growth, investment and welfare reliance found Geelong, Ballarat, Newcastle and Wollongong had experienced the biggest boom as result of the shift to the regions.
If your business is moving through a period of change and growth, click here to find out more about JK’s Employee Services.