home moving statistics of 2023

Home Moving Statistics of 2023

In recent years, the landscape of home relocation in Australia has undergone significant changes, influenced by various factors including the COVID-19 pandemic, evolving housing needs, and shifting preferences towards professional moving services. The Budget Direct's Moving Home Survey and Statistics 2023 offers insightful data that sheds light on these trends, particularly in the states of Queensland, New South Wales, and Victoria. This survey, encompassing responses from over a thousand Australians, reveals intriguing patterns in interstate moves, the impact of the pandemic on relocation decisions, and the general sentiment towards the moving process. Below, we delve into the key findings of this survey, highlighting the unique moving dynamics and challenges faced by residents of these states, and how these trends are shaping the future of home relocation in Australia.

2023 Home Moving Trends in Australia

Interstate Moves: Almost one-third of Australians surveyed who moved in the past 12 months reported that their move was interstate. This trend was particularly notable among younger respondents aged 18 to 27, with almost half indicating their move was to a new state. Western Australia emerged as the most popular destination for these interstate moves. The survey also revealed that the pandemic had a significant impact on moving trends. During the peak of the pandemic, the number of people moving interstate decreased, but there was a notable spike in interstate migration in the March 2021 quarter, especially with a significant number of people leaving Victoria. This aligns with the broader trend of increased movement from capital cities to regional areas in the aftermath of the pandemic. Interestingly, more than a quarter of respondents who moved in the past year did not have home or contents insurance and did not plan to get it in their new location, highlighting a potential area of concern for new movers.

The survey underscores a significant shift in the demographics of those moving interstate, with younger Australians being the most mobile group. This mobility is driven by various factors, including career opportunities, educational pursuits, and lifestyle changes. The trend towards moving to Western Australia suggests a growing attraction to the state's economic opportunities and lifestyle benefits. Additionally, the data indicates a changing attitude towards home and contents insurance among movers, particularly among the younger demographic. This shift in insurance trends reflects a broader trend of financial decision-making among young adults in the context of major life events like moving homes. As Australia continues to navigate the post-pandemic landscape, these moving trends offer valuable insights into the evolving preferences and behaviors of residents, shaping the future of the housing market and related services.

Moving Trends in Specific States:
Queensland: A significant portion of respondents from Queensland had negative experiences with removalists. This suggests a high level of activity in moving services within the state. The moving industry in Queensland has been bustling, with a significant number of residents reporting negative experiences with removalists. This could be indicative of a highly competitive market, where the demand for moving services is high. Queensland's diverse geography, from coastal cities to rural hinterlands, presents unique challenges for moving companies, possibly leading to varied customer experiences. Additionally, Queensland's growing population, driven by its attractive climate and lifestyle, may be contributing to the high demand for moving services.
New South Wales: NSW was the most likely state to hire professional moving services, indicating a preference for professional assistance in moving processes. In NSW, particularly in its capital Sydney, there's a clear preference for hiring professional moving services. This trend could be attributed to the urban lifestyle and the fast-paced nature of the city, where residents often seek efficient, hassle-free moving solutions. The dense population and the complexity of moving in and out of high-rise apartments might also play a role in this preference. Professional movers offer expertise in navigating these challenges, making them a preferred choice for many residents.
Victoria: In Victoria, a substantial number of respondents felt they had too many belongings during their move, suggesting a trend towards downsizing or decluttering in the moving process. Victorians, especially in Melbourne, have shown a tendency towards downsizing or decluttering during their moves. This trend could be a reflection of the changing housing market in the state, where smaller, more affordable living spaces are becoming more common. The cultural shift towards minimalism and sustainable living might also influence this trend, as people are becoming more conscious of their environmental footprint and the benefits of living with less.

Impact of COVID-19: The pandemic had a noticeable impact on moving trends. In 2021, there was a spike in interstate migration, particularly with a significant number of people leaving Victoria. This shift aligns with the broader trend of increased movement from capital cities to regional areas following the pandemic.

Stress and Insurance Considerations: Moving house has become slightly more stressful over the past two years. Additionally, more than a quarter of respondents who moved in the past 12 months did not have home or contents insurance and did not plan to get it in their new location.

Longevity in Homes: The survey also highlighted that a considerable number of Australians have lived in the same house for extended periods, with one in five households surveyed stating they had lived in the same house for 20 years or more.

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