Migration flow plateaus

New Zealand’s record breaking migration flow – which has been contributing to high housing demand - looks to have plateaued, albeit at historically high levels.

Migration
  • 20 December, 2017
  • RESIDENTIAL
  • Migrants, Migration, Housing

There was an annual net gain of 70,400 migrants in the year ending November 2017, according to the latest Stats NZ data.

That means the annual total of migrants dropped for the fourth month in a row.

The slowing of annual net migration was driven by record non-New Zealand citizen migrant departures. There were 27,800 in the November 2017 year, compared with 22,900 in the November 2016 year.

Once seasonally adjusted, there was a net gain of 5,600 migrants in November, which was the same as October’s monthly net gain.

This was actually up on September’s net gain of 5,200 migrants, but it remains well down on the 6,300 migrants who arrived in June this year.

The expectation is net inflows to moderate, as policy changes trigger a moderation in net non-NZ resident arrival numbers, while departure levels are expected to lift from historically-low levels.

LJ Hooker NZ

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