The Golden Demographic return to Newcastle
The recent ‘Big Movers: Population Mobility in Australia’ report tells us, what many of us have seen for the last few years; the golden demographic are returning to regional areas, including Newcastle.
Who is part of the golden demographic I hear you ask? Millennials – those aged 20 -35 years old. Despite misconceptions that everyone moves to the big smoke after school or getting their qualifications, never to return – the population of regional Australia is rising, and the millennials are leading the charge.
What do the stats say?
According to the Australian Bureau of Statistics figures project that the population of the regional areas will grow by 26 percent between 2007 and 2026. From the Regional Australia Institute (RAI), authors of the report, the population outside of Australian capital cities grew by more than 10 percent between 2011-2016.
In fact, more people are moving away from Sydney than are moving to it. RAI chief economist Kim Houghton sums it up, “Sydney has been losing people to regional towns and smaller cities like Newcastle and Wollongong. People are chasing jobs and a better quality of life, some of them low-income people fed up with the high cost of living in the capital cities.” In fact, one in three young people who move to the cities wind up moving back to their regional homes, he adds.
But the shift goes further than that
People are moving to (or back to) regional areas for more home for their money, less commuting, a better lifestyle, concerns about Covid-19 restrictions and even for better job opportunities. Of course, many people are now better placed to work remotely into the future, but there is a number of skilled and unskilled jobs up for grabs in the regional areas giving us a clearer picture as to why the move is happening. Large organisations such as NIB and NSW Health are leading the charge proving that millennials don’t need to move to the big smoke to enjoy career opportunities.
According to an ABC article, 207,510 millennials moved between regional communities during the four-year period, with Newcastle, the Gold Coast and the Sunshine Coast the most popular destinations – other Hunter locations including Lake Macquarie also saw the benefits of millennials wanting to maintain or reconnect with their regional roots.
Looking to move back to Newcastle or Lake Macquarie, contact PRD Newcastle & Lake Macquarie to discuss your property options – buying, leasing, or building.
Author Bio
Ryan Houston
Partner & Licensed Agent, PRD Newcastle & Lake Macquarie
With years of hands-on experience in the real estate and property development sector, Ryan Houston is a real estate phenomenon who has become Newcastle’s top sales specialist in off-the-plan projects.
Newcastle is a great place to invest, work, and live, and it is one of the reasons why Ryan has chosen to call it home. A licenced real estate agent. Ryan has an intricate knowledge of the area and the market and is the newest partner at PRD.
Contact Ryan: ryanh@prdnewcastle.com.au
