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| ▲ This file photo, taken July 17, 2022, shows apartment buildings in Seoul. |
population mobility-June
Population mobility hits 48-year low in June
SEJONG, July 27 (Yonhap) -- The number of South Koreans who moved to different residences in the country fell to the lowest level in 48 years in June due to population aging and lackluster housing transactions, data showed Wednesday.
The number of people who changed their residences came to 477,000 last month, down 12.2 percent from the previous year, according to the data compiled by Statistics Korea.
The reading marked the lowest since June 1974, when it came to 360,000.
Population mobility dropped for the 18th consecutive month in June.
The fall mainly resulted from a demographic change and a decline in housing transactions.
People in their 20s and 30s tend to frequently change their residences due to housing prices and work. But the proportion of such young adults continued to fall amid low birthrates, while that of senior citizens rose due to rapid population aging.
Housing transactions also remained sluggish as home prices fell due to rising interest rates.
The population mobility rate -- the percentage of those relocating per 100 people -- reached 11.3 percent in June, down 1.6 percentage points from a year ago.
Seoul chalked up a net outflow of 1,810 people in June, while Gyeonggi Province, the most populous province that surrounds the capital, reported a net inflow of 3,896 people.
A growing number of Seoulites are moving to the adjacent province to find cheaper homes.
Meanwhile, in the second quarter, the number of people who changed their residences fell 12.5 percent on-year to 1.48 million.
It marked the lowest since the second quarter of 1974, when the number of such people reached 1.25 million.
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