Geelong tops Australia’s regional migration rankings

City centre of Geelong in Victoria, Australia. Picture: iStock

More than one-in-10 people who packed up to move house outside of capital cities are settling in the Geelong region.

Regional Australia Institute’s Regional Movers Index for March saw Geelong record a 9.3 per cent net internal migration intake, overtaking Queensland’s Sunshine Coast as the nation’s leading destination for people moving to the country.

When including the Surf Coast, Queenscliff and Golden Plains council areas, the region’s intake rises to an almost 11 per cent share.

Geelong’s share of internal migration accelerated 96 per cent in the past year and is now greater than Victoria’s next three most popular destinations combined – Ballarat, Bendigo and the Moorabool Shire.

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More than one-in-10 people who packed up to move house outside of capital cities are settling in the Geelong region.

Greater Geelong’s ascent comes as regional Victoria captured 34 per cent of the total net inflows.

Commonwealth Bank acting executive general manager for regional and agribusiness banking Josh Foster said Geelong‘s idyllic location, established services and range of employment opportunities made is a star performer.

“This is underpinned by significant government and corporate investment in the region, including the Geelong Convention Centre which is due to be completed in 2026, and the Barwon’s Women and Children’s Hospital renovation and expansion expected to be completed in 2026/2027,” Mr Foster said.

Greater Geelong’s ascent comes as regional Victoria captured 34 per cent of the total net inflows.

To support the demand for housing, a target of an additional 128,600 dwellings in Greater Geelong by 2051 has been set by the Victorian Government, he said.

A roaring economy with rising blue collar and white collar industries saw more people choose the region, McGrath Geelong director David Cortous said.

“Geelong is leading the way with some manufacturing coming back,” he said.

“The blue collar grassroots of Geelong is well embedded through the region – that’s one reason why its growing.”

Growing health and education sectors and in particular the head office location of significant organisations such as NDIA, WorkSafe and TAC, as well as global clothing company Cotton On, meant the city was a destination for professional workers also, enjoying life in a city by Corio Bay and close to the Surf Coast.

“There’s also the liveability compared to Melbourne because the congestion in the big cities now is hard on people’s lifestyles,” Mr Cortous said.

“It’s a more affordable lifestyle here – execs and professional people can still pull the same type of income and probably live a bit more affordably.”

To support the demand for housing, a target of an additional 128,600 dwellings in Greater Geelong by 2051 has been set by the Victorian Government. Picture: Alan Barber

Property investors were also seeing the benefits, with Sydney buyers snapping up more investment properties in the suburbs, spurred on by low prices and the opportunity for growth and rental demand.

Geelong’s $720,000 median house price is still 4 per cent down on 12 months ago but market indicators show the city has passed the bottom of the market.

“We’re just starting to see the needle move now with a couple of interest rate cuts and more migration,” Mr Cortous said, documenting more people looking at properties, including up to 30 per cent out-of-town buyers.

But there are growing pains, such as development pressures to cater for more apartments and townhouses in existing suburbs and the high cost of building, property taxes and competition for tradies from massive state government projects in Melbourne.

“Because what the state government’s done with taxes and what the state government has done with the cost of build a house because they’ve sucked so much labour into their own projects, building houses in expensive,” Mr Cortous said.

“I think there’s going to more a lot of pressure on housing and demand for rental properties, because there hasn’t been as many investors in the market.”

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