Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional), 5 x finance author.

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Tuesday, 27 March 2018

Last plane out of Sydney

Car parks make me jumpy...

There's been lots of talk about a Sydney exodus, so I thought I'd take a look at a few stats. 

Departures interstate are now at last increasing strongly from relatively subdued levels, but were still no higher than historical norms as at September 2017, at least according to the latest ABS estimates. 

Job security and higher stamp duty levies than in previous cycles are two factors to take into account here.

In saying that, more Sydneysiders are taking their equity out to the regional centres up and down the NSW coast, and inland too. 

In Western Australia, on the other hand, interstate departures have been tracking high as they have ever been on this series, with annual estimates hitting a peak of above 40,000 in the first quarter of calendar year 2017. 

Melbourne has lately been a key destination of choice for many interstate migrants, bucking historical trends. 

On a net basis, however, most departees from New South Wales and elsewhere are now heading to Queensland.

And the last plane out of Sydney clearly hasn't gone yet.