NSW will suffer a major exodus of residents to other states over the next five years.Credit:Wolter Peeters
Premier Chris Minns repeatedly warned during the election campaign thatworkers were fleeing NSW,blaming the public sector wages cap and staffing shortages,particularly among teachers and nurses.
Minns argued cost-of-living pressures – particularly mortgage and rental hikes – were making it more difficult to retain essential workers when they could relocate to another state and receive higher pay.
Over the next five years,NSW will lose about 23,000 residents each year to other states. The biggest hit will be experienced this financial year,when more than 30,100 leave NSW.
While Victoria will see 2000 residents relocate interstate this financial year,the following years will see modest increases. Queensland,in comparison,will see an influx of about 21,000 residents annually from other states.
Western Australia will also welcome more residents from across domestic borders. South Australia is the only other state to suffer annual losses. The Northern Territory will also shed some residents.
The latest Australian Bureau of Statistics interstate figures published in the budget have been revised up,as more NSW residents are expected to leave the state than estimated in the October update.