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

 


NZ net migration holds up in November

NZ net migration holds up in November as Australia falls out of favour

Dec. 20 (BusinessDesk) - New Zealand’s inbound migration remained elevated in November as new migrants kept arriving and fewer locals drifted across the Tasman.

The country gained a seasonally adjusted net 2,800 new migrants in November, down from the 10-year high of 3,000 in October, according to Statistics New Zealand. On an actual basis, there was an inflow of 3,700, up from 1,700 a year earlier. The seasonally adjusted net loss to Australia of 980 was the third month in a row where the outflow across the Tasman was lower than 1,000.

On an annual basis, there was a net inflow of 19,500 new migrants to New Zealand, turning around an outflow of 1,600 a year earlier. A net inflow of British migrants led the annual gain with 5,940, followed by 5,575 Chinese migrants and 5,300 Indians.

Rising migration is seen as one of the contributing factors for the bubbling property market in Auckland, the country’s biggest city and traditional gateway, which has created a headache for the Reserve Bank in that it will have to hike interest rates to damp future inflation, but doesn’t want to make an already strong currency look any more attractive.

Today’s figures also showed an 8.2 percent lift in short-term visitor arrivals to 251,100 in November from a year earlier, and an annual gain of 5.3 percent to 2.7 million. Increasing numbers of Australian and US visitors offset declining numbers of Chinese in November.

(BusinessDesk)


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Power Outages, Roads Close: Easter Storm Moving Down Country

The NZ Transport Agency says storm conditions at the start of the Easter break are making driving hazardous in Auckland and Northland and it advises people extreme care is needed on the regions’ state highways and roads... More>>

ALSO:

Houses (& Tobacco) Lead Inflation: CPI Up 0.3% In March Quarter

The consumers price index (CPI) rose 0.3 percent in the March 2014 quarter, Statistics New Zealand said today. Higher tobacco and housing prices were partly countered by seasonally cheaper international air fares, vegetables, and package holidays. More>>

ALSO:

Notoriously Reliable Predictions: Budget To Show Rise In Full-Time Income To 2018: English

This year’s Budget will forecast wage increases through to 2018 amounting to a $10,500 a year increase in average full time earnings over six years to $62,200 a year, says Finance Minister Bill English in a speech urging voters not to “put all of this at risk” by changing the government. More>>

ALSO:

Prices Up, Volume Down: March NZ House Sales Drop 10% As Loan Curbs Bite

New Zealand house sales dropped 10 percent in March from a year earlier as the Reserve Bank’s restrictions on low-equity mortgages continue to weigh on sales of cheaper property. More>>

ALSO:

Scoop Business: Chorus To Appeal Copper Pricing Judgment

Chorus will appeal a High Court ruling upholding the Commerce Commission’s determination setting the regulated prices on the telecommunications network operator’s copper lines. More>>

ALSO:

Earlier:

Cars: Precautionary Recalls Announced For Toyota Vehicles

Toyota advises that a number of its New Zealand vehicles are affected by a series of precautionary global recalls. Toyota New Zealand General Manager Customer Services Spencer Morris stressed that the recalls are precautionary. More>>

ALSO:

'Gardening Club': Air Freight Cartel Nets Almost $12 Million In Penalties

The High Court in Auckland has today ordered Swiss company Kuehne + Nagel International AG to pay a penalty of $3.1 million plus costs for breaches of the Commerce Act. Kuehne + Nagel’s penalty brings the total penalties ordered in this case to $11.95 million ... More>>

ALSO:

Crown Accounts: Revenue Below Projections

Core Crown tax revenue has increased by $1.9 billion (or 5.0%) compared to the same time last year. However this was $1.1 billion less than expected and is reflected across most tax types, continuing the pattern of recent months. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news