Reason even Melbourne can’t keep Aussies

Young Australians are ditching major cities for regional living and their bank balances are surging because of it

Young Australians are ditching major cities for regional living, and their bank balances are surging because of it.

Financial comparison website Finder has found that millions of Australians have left cities for regional areas.

Millennials are the keenest, with 13 per cent revealing they’d left their latte lines for small town convenience.

Zoe Carney, 29, relocated from Melbourne to a small town three hours away last year, and she’s found some welcome financial relief.

The 29-year-old is a teacher who took advantage of the financial incentives offered to move to a regional area.

“I wanted an easier life and I get paid more,” she told news.com.au.

Zoe has moved to a regional area. Picture: TikTok/https://www.tiktok.com/@zoeteaching

She's loving the lifestyle change. Picture: TikTok/https://www.tiktok.com/@zoeteaching

From a work perspective, it’s a dream. She has small class sizes and is able to teach the subjects she loves.

From a money perspective, it has also been a massive win.

“I’m definitely saving money and putting money aside to spend on the things I want to do,” she explained.

She’s also getting more bang for buck.

“A one-bedroom to rent in Melbourne would be about $400. Here, the place I’m renting is $320, and it is two bedrooms with a courtyard and has double the space,” she said.

Ms Carney spends less on rent and fuel and finds that living in a small town involves fewer $60 dinners out and more inclusive community activities.

“The lifestyle is so much better. In Melbourne, I was driving 45 minutes, and here I drive three minutes to work. It is about a 10 to 15 minute work,” she said.

“I have an hour and a half back every day. I have so much more time to exercise, cook nice food and be social.”

She found living in Melbourne could be stressful. Picture: iStock

Ms Carney said she found some aspects of city life extremely “stressful” Being stuck in traffic every day was a sure-fire way to make her feel tense.

Now, she’s got a three minute commute and if she forgets her lunch, or something she needs to teach, she can dash home.

There’s also the fact that because the country lacks advantages like fancy dining places and 45 pubs to choose from, she finds people mucking in more to create events.

“I joined a netball team, and when we had our netball dinner, It wasn’t like a ticketed event. Everyone had to make something and everyone brought it in,” she said.

“It was so interesting because it would be so different in Melbourne and likely would have been quite expensive event.”

She's found living regional to really work for her. Picture: Supplied

The 29-year-old has found the move to be a successful change that has enhanced her quality of life.

“I love being around nature, and in general, I just feel calmer. I really like that I know so many people in town. I feel like people look out for you,” she said.

Earlier this year, new data in the Regional Movers Index showed that, for the March 2024 quarter, the number of city-dwellers choosing a life in the regions hit a 12-month high.

The report by Commonwealth Bank of Australia (CBA) and the Regional Australia Institute (RAI) analyses the trends in people moving to and from Australia’s regional areas from data collected from the bank’s 16 million customers.

The data showed that 24.2 per cent more people are moving from cities to regions than are going back the other way.

The city young people are ditching at the highest rate continues to be Sydney, with 67 per cent of all regional outflows coming from this city in the 12 months to March 2024.

However, this figure still needs to be less than the 89 per cent seen 12 months prior.

The other major city people are leaving at a high rate is Melbourne, with 30 per cent of all regional outflows, down from 51 per cent the previous year.