Research shows residents are moving to be near their job, schools, services and transport. Being close to work is the main reason Melburnians move house.
This is the finding of an Australian Bureau of Statistics survey into residential and workplace mobility. The survey was designed to find out what motivates people to change residence, the demographic characteristics of those who do and don’t and the mode of transport used to travel to and from work.
The survey covered three years to October 2008.
Of the 3.9 million Victorians over the age of 18 who took part, 1.1 million people had moved house in that time. Residents in the 18 to 34 age group were the most mobile, representing 55 per cent of all people who moved. The proportion of movers decreased with age: just 13 per cent of all people who moved were aged 55 and over.
As part of Melbourne @ 5 Million, the State Government has nominated a number of urban centres to be the focus of substantial employment growth and public investment. If these centres can provide employment hubs, then it is likely they will attract strong demand for rental and owner-occupied housing. This may lead to price growth above the trends experienced throughout the rest of Melbourne. This accords with the REIV’s experience that while many people want to live in new estates on the Greater Melbourne fringe, there are also many who want to live close to services, shops, schools and transport in established areas.
If interested in learning more about this update please contact me today!
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