Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


External Migration and Housing Market (June 2002)

Data Flash (New Zealand)

External Migration and Housing Market (June 2002)

The monthly net inflow of migrants slowed to 2,930 in June, from 3,360 in May (figures are seasonally adjusted). While the number of arrivals continued to recover from the downward correction in April, that was more than offset by a rebound in departures. The latest figures are consistent with our view that, going forward, migration will make a significantly smaller contribution to demand growth than over the past year.

Slowing population growth is expected to reinforce the slowdown in the housing market. In May and June, seasonally adjusted turnover of existing homes fell by, in total, 5%, which can at least partly be attributed to the RBNZ's 100 bps increase in the cash rate since March. Consistent with the slowdown in house sales, it is likely that the house price inflation cycle has peaked as well.

Ulf Schoefisch, Chief Economist

***The attached research constitutes Deutsche Bank's proprietary information*** This, along with an extensive range of other publications, is available on our web site

© Scoop Media

Business Headlines | Sci-Tech Headlines


Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>



Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news