Seoul: The number of South Koreans relocating to new residences increased 8.6 percent from a year earlier in June, mainly due to a base effect and a rise in housing transactions, government data showed Wednesday.

According to Yonhap News Agency, the data compiled by Statistics Korea indicated that approximately 478,000 people changed residences last month, up from around 440,000 people a year earlier. This figure marked a rebound following three consecutive months of on-year decline since March.

The population mobility rate, which refers to the percentage of people relocating per 100 residents, also increased by 0.9 percentage point from a year earlier to 11.4 percent. "The volume of housing transactions in April and May rose 10.8 percent compared to the same period last year, and the particularly low number of moves in June 2024 likely created a base effect," said Lee Eun-jeong, an official at Statistics Korea.

Despite the on-year increase, the agency noted that the June figure was still the ninth lowest for the month since data compilation began in 1970. Lee added that the broader trend of declining population movement is attributed to South Korea's demographic changes, particularly an aging population, and a subdued real estate market.

By region, Seoul recorded a net outflow of 2,676 residents in June. In contrast, the nearby port city of Incheon posted a net inflow of 2,278 people, while Gyeonggi Province, which surrounds the capital, saw a net gain of 4,120 residents, the data showed.