Independent economist Tarric Brooker posted the following chart on Twitter (X), showing net internal migration in the year to March 2024 across Australia’s state capital cities:
Source: Tarric Brooker
As you can see, only Brisbane (13,200) and Perth (8,300) had positive net internal migration over the year, whereas every other capital city lost residents to other jurisdictions.
Brisbane (+75%) and Perth (78%) have also experienced exceptionally strong value growth since the beginning of the pandemic, with Adelaide (77%) experiencing similar growth:
Perth and Brisbane are also the capital cities of Australia’s two largest resource states, which has bolstered state government finances.
Logically, internal migration to Brisbane should slow given that its median dwelling price is now the second most expensive in the nation, behind Sydney:
By contrast, Perth’s housing is still relatively affordable and the lowest of the major capitals; although it does have the “tyranny of distance”.
