Australia is currently experiencing a very large, though temporary, increase in overseas migration. The Australian Bureau of statistics reports a population increase of 660,000, which is 2.5% in the year up to September 2023.

The 2022 – 2023 financial year reports reveal the areas with the highest regional migration. Regional migration is driven by a combination of overseas migration as well as internal migration, which is movement from one area of Australia to another.

The table below shows the top 10 regions in net migration between July 2022 – June 2023, as well as the change in rent and values in the same period. All are located in Sydney or Melbourne. The majority of the areas with the highest migration in Australia saw the most arrivals from internal migration. Internal migration accounted for around 90%+ of the migration to six of the top 10 regions listed.

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