Markets 
More than 8000 people migrated to Perth in the 2024-25 financial year, with new figures showing the larger eastern states cities recorded an exodus due to skyrocketing living costs.
An internal net migration analysis by KPMG showed an influx of people heading west, with Brisbane and Perth the only capital cities to record an increase in net interstate migration.
Meanwhile, Sydney lost 33,000 residents and Melbourne lost 8500.
Perth was also the fastest growing city with a 2.4 per cent population increase, adding 58,100 new residents over the same timeframe largely driven by overseas migration.
Greenfield growth areas dominate Perth’s population growth, with Alkimos-Eglinton standing out as the fastest-growing area, adding more than 2500 new residents over the financial year.
Close behind is Brabham-Henley Brook in the northeast, while both the northern and southern parts of Baldivis, along with Byford, are key drivers of growth in Perth’s southern corridor.
“Perth is attracting workers with its strong economic activity and lifestyle benefits,” KPMG urban economist Terry Rawnsley said.
“The problem for the city will be that its rapid growth is diminishing some of the advantages that made it so attractive in the first place, like cheaper housing.”
Rawnsley said the coastal regions of Perth were attracting many new residents due to their “relatively affordable housing and appealing lifestyle” when compared to coastal suburbs in other states.
Greenfield areas are also sporting significant growth due to housing demand, with many new homes built in those suburbs.
“We are seeing significant policy actions being undertaken by state governments to unlock more housing and encourage population growth in middle-ring and inner suburbs,” he said.
“However, it will take time to shift this rapid population growth away from greenfield areas.”
Those already residing in Perth were most likely to move to those greenfield areas, including Alkimos, Brabham, Baldivis, Mandurah and Casuarina, and were leaving inner-city suburbs like East Perth, Cannington and Bentley.
Meanwhile, those same inner-city suburbs attracted people moving into the state.
Rawnsley said housing affordability was squeezing young families out of the inner city.
That is reflected in the statistics, with baby booms recorded in Byford, Alkimos and Brabham.
On the opposite end of the scale, several Perth suburbs have recorded a ‘death boom’, including North Coogee, Karrinyup, Claremont, Mandurah, Bentley and Bullcreek.
Rawnsley said the combination of an ageing population and high house prices was contributing to population declines in affluent pockets of the city.
Holly Thompson is a journalist with WAtoday, specialising in education and the environment.Connect via X or email.From our partners
Read the full article here
