But employees left on their own during relocation process, report says
Nearly three in 10 Australians changed their place of residence in 2023 due to work-related reasons, making it the second-biggest factor on why Aussies are moving elsewhere, according to a new report.
The 2023 Muval Index revealed that 29% of Australians transferred houses due to work, just behind the 35% who said they moved to reduce the cost of living.
"Employment is the second-biggest factor driving moves this year and with work moves on the rise – a quarter of Australians have moved for work and half of work moves were in the past two years," said Muval CEO James Morrell in the report.
Affordability remains the top reason why Australians are moving for work, as 57% of respondents said they transferred to a different location because there was a higher offer there.
According to the report, 25% of Australians admitted that a $50,000 increase to salary would make them move to another city of state.
Other factors that pushed Australians to move away for work-related reasons include:
The hike comes as more employers across the world encourage employees to come to the office after making work fully remote over the past years.
For Australia, Muval said it is expecting work-related relocations to "increase significantly" in the next 12 to 18 months in line with trends that usually come after previous economic downturns.
The problem with moving, however, is how employees are usually left to their own when it comes to organising their move.
"While businesses are happy to offer relocation packages for staff, the moving process and organisation places a heavy burden on employees who are uprooting their whole lives for a new opportunity, often in another state or on the other side of the country," Morrell said.
Overall, nearly 40% of Australians change their place of residence every five years, with last year's relocations driven by the cost of living.
"This year moves are based on one thing – affordability," Morrell said in a media release. "The 2023 Muval Index shows how much inflationary pressures have changed Australians' outlook in the space of a year and what they are having to do to keep a roof over their head, whether it's moving to a new suburb or city where housing is more affordable or accepting a job that's paying more money, even if it means packing up the family and relocating to a different state."
