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

 


Kiwis moving to Australia at record low in April

Kiwis moving to Australia at record low, pushing NZ’s net migration near to all-time high

By Suze Metherell

May 21 (BusinessDesk) – Kiwis leaving for Australia fell to a record low last month, boosting New Zealand’s net migration to levels the Reserve Bank says will help drive up house prices and stoke inflation.

The country gained a seasonally adjusted 4,100 net new migrants in April, the second highest net gain on record, and up from 3,800 in March, said Statistics New Zealand. A net 200 people left for Australia in April, the lowest since the government began tracking the data in 1996 and down from 400 in March.

In the year ended April 30, New Zealand gained a net 34,400 migrants, as 98,800 people arrived while 64,400 departed. That’s almost three times the average annual net inflow in the past 20 years and the highest since 2003. In the year, the net loss to Australia fell to 11,100, from 34,100 a year earlier.

Net migration is forecast to peak at 38,000 later in the year, according to the Treasury’s Budget projections released last week. The Reserve Bank has already embarked on a cycle of hiking interest rates citing rising migration among a number of inflationary pressures.

“We think the surge in migration will support the housing market through this year, but not enough to stop prices from slowing as mortgage rates continue to rise,” Felix Delbruck, a Westpac senior economist, said in a note. Signs of improvement in the Australian economy and the eventual slow-down in the Canterbury rebuild mean “the current migration boom won’t last forever.”

India overtook China to be the biggest source of migrants in the year ended April, with a net 6,400 Indian migrants arriving. Chinese migrants were a net 6,200 and people from the United Kingdom a net 5,900. Auckland attracted the most international arrivals with a net gain of 16,000, Canterbury had a net gain of 5,300 and Otago gained a net 900 migrants.

Today’s figures show short-term visitor arrivals rose 12 percent to 224,200 in the month compared to a year earlier, as an April Easter attracted more international holiday makers, Statistics NZ said.

Annually, short-term visitors rose 6 percent to 2.78 million, as arrivals from Indonesia and Singapore both grew more than 17 percent. Australian visits rose 5.5 percent to 1.24 million in the year ended April, China rose 10 percent to 239,376, the US gained 11 percent to 209,280 while annual UK visitors rose 2.8 percent to 194,288.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Sky City : Auckland Convention Centre Cost Jumps By A Fifth

SkyCity Entertainment Group, the casino and hotel operator, is in talks with the government on how to fund the increased cost of as much as $130 million to build an international convention centre in downtown Auckland, with further gambling concessions ruled out. The Auckland-based company has increased its estimate to build the centre to between $470 million and $530 million as the construction boom across the country drives up building costs and design changes add to the bill.
More>>

ALSO:

RMTU: Mediation Between Lyttelton Port And Union Fails

The Rail and Maritime Union (RMTU) has opted to continue its overtime ban indefinitely after mediation with the Lyttelton Port of Christchurch (LPC) failed to progress collective bargaining. More>>

Earlier:

Science Policy: Callaghan, NSC Funding Knocked In Submissions

Callaghan Innovation, which was last year allocated a budget of $566 million over four years to dish out research and development grants, and the National Science Challenges attracted criticism in submissions on the government’s draft national statement of science investment, with science funding largely seen as too fragmented. More>>

ALSO:

Scoop Business: Spark, Voda And Telstra To Lay New Trans-Tasman Cable

Spark New Zealand and Vodafone, New Zealand’s two dominant telecommunications providers, in partnership with Australian provider Telstra, will spend US$70 million building a trans-Tasman submarine cable to bolster broadband traffic between the neighbouring countries and the rest of the world. More>>

ALSO:

More:

Statistics: Current Account Deficit Widens

New Zealand's annual current account deficit was $6.1 billion (2.6 percent of GDP) for the year ended September 2014. This compares with a deficit of $5.8 billion (2.5 percent of GDP) for the year ended June 2014. More>>

ALSO:

Still In The Red: NZ Govt Shunts Out Surplus To 2016

The New Zealand government has pushed out its targeted return to surplus for a year as falling dairy prices and a low inflation environment has kept a lid on its rising tax take, but is still dangling a possible tax cut in 2017, the next election year and promising to try and achieve the surplus pledge on which it campaigned for election in September. More>>

ALSO:

Job Insecurity: Time For Jobs That Count In The Meat Industry

“Meat Workers face it all”, says Graham Cooke, Meat Workers Union National Secretary. “Seasonal work, dangerous jobs, casual and zero hours contracts, and increasing pressure on workers to join non-union individual agreements. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news