Victoria expected to lose tens of thousands of residents over next three years

Tens of thousands of Victorians are planning to leave the state over the next few years for these crucial reasons.

Victoria’s population is expected to shrink drastically in the next three years. Picture: NCA NewsWire / Andrew Henshaw

Victoria’s population is expected to fall drastically within years, with its residents expected to flock to other states in the aftermath of the pandemic.

In the midst of increasing house prices and two years of devastating pandemic restrictions, new figures from the Treasury Centre for Population have predicted around 40,600 residents will flee the state.

Alarming data released earlier this week from the Bureau of Statistics also showed Victoria’s population fell by 45,000 between 2020 and 2021.

Shadow treasurer David Davis said the fall in the population came down to the government’s pandemic management and a tough economy.

“Under Daniel Andrews, Victoria has gone from the place to be to the place to flee, as our population remains firmly in reverse,” he said.

New data shows around 40,000 Victorians are expected to leave the state over the next few years. Picture: NCA NewsWire / Luis Enrique Ascui

It follows years of rapid population growth in Melbourne before the pandemic.

According to the centre, Victoria will lose residents to other states over the three years to July 2023, before it gains an expected 19,200 people in the three years after that.

The data also predicted NSW would lose 147,900 people to other states over six years, with Queensland becoming a popular settling destination for residents from the southern states.

Addressing Parliament on Wednesday, Queensland Premier Anastacia Palaszczuk said around 41,000 Australians were expected to migrate to Queensland in the next year alone.

“A total of 129,200 will move here over the next five years and Mr. Speaker, you can’t blame them,” she said.

“That is the equivalent of every man, woman and child currently living in Bundaberg.”

The state already lost thousands of people during the height of the pandemic. Picture: NCA NewsWire / Paul Jeffers

It comes after staggering figures earlier this week highlighted the extent of Victoria’s population loss over the two years of the pandemic.

The greatest exodus came from metropolitan local government areas including Melbourne, Port Phillip, Stonnington, Boroondara, Yarra, and Monash, with residents relocating to regional areas or other states.

It’s believed the biggest hit to Melbourne’s population included international students and working holiday-makers, with 54,367 people moving overseas who were not replaced by new arrivals.