More than a quarter of Australian movers were headed to Melbourne in October, according to the latest study from Muval.
The Muval study found that around 27% of all major metro inbound moving enquiries in the month were from movers headed to Melbourne, with the bulk of new residents coming from Sydney and Adelaide.
This improved Melbourne’s net migration, which is now leaning towards a more positive territory at -12%, down from the -25% in August and the -23% in September.
What this trend shows is that more people are moving in than out of Melbourne in October.
Meanwhile, there seems to a shift happening in Adelaide, which has already experienced its third consecutive month of negative net migration.
Adelaide first reported a 6% decline in August, followed by a 5% drop in September and an even deeper 11% fall in October.
Residents from the South Australian capital are moving into the cities of Melbourne, Brisbane, and Perth.
Brisbane ranked second to Melbourne in terms of inbound moving enquiries, accounting for 20%.
Sydney was Brisbane’s number of source of Brisbane inbound movers.
However, despite the influx of Sydney residents in Brisbane, the city’s net migration dropped from 34% to 23%, which could suggest that some Brisbane residents also moved elsewhere in search of affordability.
Perth came in next in terms of inbound moving enquiries at 19% — the top three cities feeding into the Western Australian capital are Melbourne, Sydney, and Adelaide.
On the other hand, Sydney reported the highest number of outbound enquiries at 32%. Net migration in Sydney was at a steady -50% so far in 2022, which means it is losing a lot of residents this year.
Most of those moving from Sydney go to Melbourne, Perth, and Brisbane.
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Photo by RODNAE Productions from Pexels.
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