The state that's still the pick of the bunch for local migration

Queensland is attracting more interstate migration than any other state, as residents flee NSW, data released by the ABS has shown.

The COVID-induced domestic exodus to the Sunshine State has continued with statistics showing a net migration north of 31,070. By contrast, NSW has experienced a net loss of -30,213 residents, the largest population decline of any state in Australia.

The ABS noted that the 12-month review to March 2023 reflected the residual effects of COVID, which saw tens of thousands of Australians moving north permanently when state border restrictions lifted in early 2022.

This growth in population was followed by Western Australia, which also recorded a net migration of 11,121. South Australia recorded a much more modest net increase of 157 new residents. All the other states recorded net drops in population.

Head of research at Hello Haus property advisory, Sam Powell, said the data presented investors with an opportunity to capitalise on possible yields in growth suburbs in both WA and Queensland.

“The big shift both north and west is unsurprising,” he said. “Queensland and WA have relatively affordable real estate, and both offer exceptional lifestyle appeal, plus comprehensive facilities and infrastructure.

“Their prospects look great economically as well. The 2032 Olympics will put Queensland on the world stage, and a resurgence in commodity prices as global economies recover bodes well for WA in the long term too.”

Mr Powell identified three suburbs of Brisbane — Oxley, Boondall and Fitzgibbon — as areas with strong potential for growth. The Greater Perth suburbs of Gosnells and Girrawheen and the Perth locales of Mirrabooka, Caversham and Ballajura, were also likely to be strong performers, he said, based on relatively low median house prices and strong yields.

Citizen Kanebridge, one of Australia’s premier private members’ clubs, will open a new chapter in Sydney’s fast-growing Norwest corridor, expanding its physical footprint to meet its property, finance and investment membership base where they live and work.

The club’s primary premises remains the Royal Automobile Club of Australia on Macquarie Street in the Sydney CBD — one of Australia’s most distinguished institutions — where Citizen Kanebridge members continue to enjoy full access to its storied facilities at the heart of the city.

The new Norwest chapter, to be known as Citizen Kanebridge Norwest, will be developed in partnership with Momento Hospitality, with the venue’s top floor facility serving as the primary location for key events.

Norwest has emerged as one of Sydney’s fastest-growing commercial and residential corridors, increasingly home to the developers, financiers and investors at the heart of the Citizen Kanebridge community. The move places the club at the centre of the growth story many of its members are most engaged in.

“Norwest is where the city is moving,” said Ruba Jaajaa, COO of Kanebridge Media. “For a club built around property, finance and investment conversations, it’s simply the right place to be.”

For Jaajaa, the expansion carries a personal resonance as much as a strategic one.

“There is also a wonderful sense of coming full circle in bringing Citizen Kanebridge to Norwest,” she said. “More than 20 years ago, this is where the foundations of the Kanebridge Group were first developed. Returning to the area is a warm opportunity to reconnect with the enduring relationships, trusted conversations and community that have been part of the Kanebridge story since 1999.”

Membership will be offered as a dedicated tier, the Citizen Kanebridge Norwest Individual Membership, including monthly dining credits at Momento Hospitality venues and access to the Sonato global reciprocal club network, spanning more than 250 private clubs worldwide. Members will also receive digital subscriptions to Kanebridge Quarterly, Robb Report Australia & New Zealand, and The Wall Street Journal.

Further details on the launch event calendar, membership applications and transition arrangements will be announced soon.

For further information, contact Ross Blainey at concierge@citizenkanebridge.com.au.

The state that’s still the pick of the bunch for local migration

ABS data reveals where everyone is moving to — and the states losing out

Citizen Kanebridge expands into Sydney’s fast-growing Norwest corridor, bringing the club back to the region where the Kanebridge story was shaped more than two decades ago.