Net gain at three-year low as Kiwis move to Australia
Net migration has fallen to the lowest level in three years, as the number of Kiwis moving across the Tasman climbs and holders of temporary and student visas leave to return home.
Statistics New Zealand said annual net migration fell to 62,700 in the 12 months to September 30, a drop of 8300 on a year ago, and the lowest level since October 2015.
Although the number of people moving here intending to stay for at least a year has fallen slightly, the pick-up in departures was sharper.
After a brief period of gains in net trans-Tasman migration, the number of New Zealanders moving to Australia climbed to 25,710 over the 12 months, 1575 more than moved the other way.
ASB senior economist Mark Smith said migration to Australia was now at its highest level since April 2015.
This was ‘‘likely as a result of the strengthening Australian labour market and higher wages on offer across the Tasman’’.
ASB has forecast that net migration will continue to fall steadily until the end of 2019, by which time it will have dropped to an annual gain of around 40,000.
Westpac senior economist Satish Ranchhod said a big factor weighing on migration was the number of non-New Zealand citizens leaving the country to countries other than Australia.
‘‘That’s actually an echo of the increase in arrivals of those on temporary work and student visas that we saw in previous years. We expect that departures will remain high for some time yet.’’