Net immigration stabilises...at elevated levels

Net immigration stable

There were 77,410 permanent and long-term arrivals into Australia in November 2024, a very similar figure to November 2023.

Permanent and long-term departures were, very slightly, lower than a year ago. 

On a net basis, there was permanent and long-term immigration into Australia of around +447,000 over the year to November. 

The annual figure for net immigration appears to have stabilised of late.

Short-term resident returns also increased by 11 per cent over the past year.

The month of December tends to see a couple of million or more Aussie departures trekking overseas, and so this is generally a much quieter time for the housing market, but then the arrivals figures tend to come roaring back in January.

Australia's 2024 Population Statement projected population growth of +444,000 in 2025, as I looked at in a bit more detail here.

At the macro level, the housing shortage will thus likely worsen in 2025, given the comparatively slow rate of building.

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