‘Great Slow Down’: New trend sweeping Australia as young people ditch capital cities

There is a new movement slowly sweeping across the country, with young Australians leading the charge.

There is no denying that the past 12 months has been a time of high stress for many Australians.

The cost of living crisis is out of control, rental prices are skyrocketing and brutal rate rises combined with inflated house prices mean the Great Aussie Dream of owning a home is seeming more like a fantasy than a realistic goal for many young people.

As a result, a new trend has been born and we are already seeing it manifest across the country, with young Aussies leading the charge.

Research released late last year by cultural insights agency, The Lab, found Australians have begun to shift their priorities, which in turn has created a new collective ambition: The Great Slow Down.

The Australia Project report cited data complied from a survey of 2000 Australians, presenting it against a background of cultural insights the The Lab has been collecting and analysing since 2012.

‘The Great Slow Down’ is the latest trend sweeping across the country. Picture: iStock

Of those surveyed, 81 per cent said they are focused on simplicity in their lives, with 61 per cent agreeing that the pace of life is currently unrelenting.

A further 61 per cent think they need to resist the pressure of hustle culture in favour of leisure time.

Half of respondents believe the “Australian Dream is unachievable for people like me”.

This ‘Great Slow Down’ is reflective of the shift towards a life that prioritises work-life balance and to achieve an overall sense of greater wellbeing, a movement that young people have been staunchly leading the way in.

One of the ways we are seeing these new ambitions manifest in 2024 is by Gen Z and Millennials ditching capital cities and, instead, looking to establish roots in regional areas.

One of the regional areas that is already seeing a spike in young movers is Townsville, Queensland.

With a median house price of $440,000 – compared to the national $973,300 – it is not hard to see why young people dreaming of owning their own home might be drawn to the area.

Jasmine is one of the young Aussies who has decided to leave behind a capital city in favour of Townsville.

The 26-year-old and her partner, Ben, moved from Perth after deciding Townsville presented the best opportunity to buy their first home.

Jasmine and her partner Ben moved to Townsville in 2023 after buying their first home. Picture: Supplied

“We decided to buy a house in Townsville for a pretty straight forward reason: price,” Jasmine said.

The couple managed to secure a three-bedroom, two-bathroom house on a 600m2 block for $427,500 in 2023.

The price meant their mortgage repayments are “super manageable” and they have money left over each much to put towards things they enjoy, such as travel.

“I know a lot of young Australians feel disenfranchised and think they’ll never be able to own a home,” she said.

“It’s something people shouldn’t rule out entirely – there are still affordable options out there without having to go to extremes, which people in capital cities might not be aware of.

“I feel confident about Townsville as a region to own a home in. The economy is stable and there are lots of projects happening in health, defence and green energy so there are good jobs available and it feels like a good place to buy a home.”

Danielle is another Gen Zer who has jumped on the trend, ditching Sydney for the tropical city.

Danielle moved to Townsville in 2020 after buying her first home for $227,000. Picture: Supplied

She bought her first home in 2020 when she was just 19, a two-bedroom, two-bathroom townhouse for $227,000.

“That’s something I could never have imagined if I were still in Sydney,” she said.

Since moving to Townsville, Danielle’s work-life balance has been “incredible”, noting it often feels like she is “on holiday every day”.

“I’m just over five minutes from the beach. I start every day with my friends, either at the gym or on a run, and then we head to the beach to watch the sunrise and enjoy a coffee,” she said.

According to Live Townsville North Queensland’s Liveability Report 2024, a whopping one in five metro residents are considering moving to regional Australia.

Of those surveyed, 78 per cent said they were considering making the change due to affordability.

Peter Wheeler, Managing Director of Colliers Townsville, said there is “definitely a buzz” surrounding the area at the moment, adding the region has a lot to offer in terms of affordability and liveability.

“There’s $33 billion of infrastructure in the pipeline and we’re creating heaps of jobs and we’re seeing our population grow as people move to take part in the green energy revolution,” he said.

“People are getting out of larger cities in droves and they’re heading to the regions. Townsville has a huge opportunity with such a strong project pipeline and affordable housing.”

For 28-year-old Amelia, her decision to move to the region initially stemmed from wanting a change in lifestyle and not wanting to spend another winter in Adelaide.

Amelia moved to Townsville after deciding she wanted a change in lifestyle. Picture: Supplied

She said she now has a higher quality of life and is experiencing a lower cost of living. Picture: Supplied

“I started looking at Queensland in general, then saw this job at Townsville City Council being advertised. I’d never been to Townsville before but it looked totally up my alley, and Townsville has so much on offer in terms of nature, culture, all the fun things,” she said.

The young worker said the city now “feels like home”, saying the quality of life is higher, the cost of living is lower and it feels like there is always something to do.

“I’ve been so fortunate to meet lots of other young people who have moved up here, whether they moved to study or for a job,” Amelia said.

“People have been so welcoming and inviting, I’ve made such a great diverse group of friends and so many new hobbies. My life is so different to how it was back in Adelaide.”

Of potential relocators that were surveyed, 77 per cent revealed they were considering a move in the next three years, but have not yet made concrete plans.

More than half said they were considering move to a larger coastal centre, putting Townsville in prime consideration.

Townsville Enterprise CEO, Claudia Brumme-Smith, told news.com.au that Townsville is the ideal location for young Aussies looking to get into the housing market.

“Young people don’t need to be going into huge amounts of debt to own their homes here and have the opportunity for rewarding careers and a balanced coastal lifestyle,” she said.

“Townsville is a well-connected city, with direct flights to and from Brisbane, Sydney, Melbourne, Adelaide and Darwin; young people who move here have easy access across Australia and benefit from the metro and natural amenities the city has to offer.”

An increasing number of young people are moving to Townsville. Picture: iStock

Ms Brumme-Smith said the city also offers competitive economic and career opportunities for young people.

The region currently has a future project pipeline valued at over $33 billion which will require 22,000 new jobs across various projects including developing Australia’s green energy capability through wind and solar projects, as well as critical mineral refining.

She also claimed there is a “misconception” about the difference in salary when working regionally, compared to metro city areas.

“Our average income is actually only five per cent below that of capital cities, and when you combine this with the 50 per cent off cost of living – affordable housing, child care and more – the disposable income young people will have makes building an enjoyable carefree lifestyle all the more achievable,” she said.

Ms Brumme-Smith said that, in light of the current economic climate, many Australians are using this time to re-evaluate their lives, with many prioritising more space, natural beauty and a more balanced lifestyle.

“The capital cities don’t offer that, which is a boon for Townsville,” she said.

“Townsville is a vibrant, energetic community, and with so much potential on offer, the decision to choose Townsville as their next big move should be an easy one.”