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More Australians are prioritising lifestyle and wellbeing over financial concerns when choosing where they want to live, according to the latest research.
Prolonged cost-of-living pressures like persistently high inflation, coupled with elevated interest rates, have caused Australians to reach a tipping point. According to the 2024 Muval Index, which surveyed Australians about their moving intentions, a better quality of life has become the primary reason behind residential moves, surpassing employment, housing and pure monetary factors.
The 2024 Muval Index – informed by Muval’s booking data as well as the results of a recent survey – provides the most current insights into Australians’ moving motivations and internal migration trends.
Of those planning moves in 2025, lifestyle has been cited as the prime motivator for 41 per cent, while 29 per cent are driven by the desire to cut living expenses. In contrast, work-related moves fall to just 11 per cent compared to 26 per cent in 2023, signifying a trend towards prioritising personal wellbeing over traditional financial pursuits.
Looking back over 2023, one-third of movers said they moved due to the desire for an improved lifestyle, showing that this trend is clearly still on the rise.
Muval’s findings indicate a broader national desire for life fulfilment, as the top wish among Australians remains an overseas holiday, with 56 per cent aiming to travel abroad within the year – a figure more than twice those planning career changes, three times those intending to move, and nearly eight times those planning to have a baby.
James Morrell, CEO of Muval, commented that Australians appear weary of dealing with financial stressors and are making changes accordingly.
“The data tells us that Australians have had enough of financial pressures and while cost of living is still impacting our lives, we are no longer fixated on being a slave to a mortgage we can’t service,” he said.
“The new great Australian dream is to live, and we are increasingly prioritising lifestyle over life stress this year and next,” he added.
Muval’s report also analysed national migration trends, showing Melbourne and Brisbane as the top relocation destinations, each capturing 26 per cent of inbound city moves in September.
Notably, Brisbane surpassed Perth to claim the highest net migration rate for 2024, with the ACT emerging as a winner in positive net migration, while Brisbane’s inner city experienced the greatest loss of residents.
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