Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Wednesday, 26 April 2017

Kiwis trickle back to Oz

Record NZ migration

Migrant arrivals grew to a record high 129,500 over the year to March 2017 according to Statistics New Zealand, putting increased pressure on the Auckland housing market. 

On a net basis permanent and long term migration rose to a record high 71,900 over the year to March, with fewer migrant departures being an important part of that equation. 

It's been a long time coming but the number of permanent and long term departures from Australia to New Zealand is now in decline. 

Record migration has been driven by sea-changing Brits, Chinese migrants, and migrants from South Africa. 

There has been a sharp pullback in the annual number of migrants from India, perhaps related to a freeze on the parent visa category, through which new NZ residents sponsor family members. 

More than a quarter of migrant arrivals were citizens of New Zealand. 

On a net basis the flow across has the Tasman has been in the direction of Australia for three months consecutively, suggesting that the "Kiwi exodus" has run its course. 

Unemployment rate Bledisloe

New Zealand's unemployment rate rose to 5.2 per cent in the December quarter, but this remains some way below the 5.9 per cent unemployment rate recorded in March in Australia. 

Despite this, Australia remains a popular destination for Kiwis.

The latest available data showed that from nearly 2 million temporary visa holders in Australia more than 677,000 were New Zealanders on a subclass 444 visa.