Population mobility down 10% in Sept. to lowest level in 53 years
Apartment complexes can be seen from Mount Nam in central Seoul, Oct. 18. Yonhap
The number of Koreans who moved to new residences fell in September from a year earlier following a steady decline in housing transactions, data showed Wednesday.
Around 444,000 people changed residences in September, compared with 494,000 a year earlier, according to the monthly tally from the Ministry of Data and Statistics. It was the lowest September figure since 1973, when 378,000 people changed residences.
The population mobility rate — the number of people relocating per 100 residents — fell 1.2 percentage points from a year earlier to 10.6 percent.
The overall decrease came in line with declines in housing transactions and the supply of new homes, along with the country's aging population.
According to a separate monthly report issued by the finance ministry earlier this month, the total number of houses traded in August came to 48,359, down 23.5 percent from a month earlier.
Average housing prices rose 0.32 percent on-month in August, while jeonse prices increased 0.35 percent over the same period.
Under the jeonse system, tenants provide landlords with a large lump-sum deposit, which is returned in full at the end of a lease typically lasting at least two years.
The on-year decrease also came as the extended Chuseok holiday fell in September this year, whereas it fell in October in 2025.
By region, Seoul reported a net outflow of 2,359 people, while the southwestern Jeonnam-Gwangju area and the southeastern port city of Busan recorded net outflows of 531 and 401, respectively.
In contrast, Incheon, west of Seoul, posted a net inflow of 1,956 people, followed by South Chuncheong Province with 1,032.