Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Friday, 20 May 2016

Kiwi migration trend ends

Net migration flow to Australia returns

Over the past 12 months Australia has experienced a small net loss of permanent migrants to New Zealand, largely comprised of Kiwis returning home.

Given the awful weakness of the NZ dairy industry - 80 per cent of the industry has reportedly been operating at a loss - and given that economic growth in Australia has held up surprisingly well, it's no surprise to hear that the trend has already reversed.

For the month of April 2016, for the first time in twelve months Statistics New Zealand reported a small net migration flow back in the direction of Australia. 

Indeed, more Kiwis are choosing to visit Australia for short term trips too, with total annual visitors rising by 37,100 to 1.14 million.

Like Australia, New Zealand is experiencing strong population growth from Asia, and a large net inflow of international students in particular.

Recently Australia's population hit 24 million, as I analysed in some detail here.

At this moment the population of Australia is 24,078,693 with another 79,000 or so people to house over the past three months.

Which kind of puts the oversupply of apartments into another perspective.