Net gain at three-year low as Kiwis leave for Australia

Net migration has fallen to the lowest level in three years, as the number of Kiwis moving to Australia climbs and holders of temporary and studen 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. After a brief period of gains in net trans-tasman migration, the number moving to Australia climbed to 25,710 during the 12 months, 1575 more than moved the other way. ASB senior economist Mark Smith said this was probably ‘‘a result of the strengthening Australian labour market and higher wages on offer across the Tasman’’.