From Statistics New Zealand this morning:
- New Zealand had a seasonally adjusted net gain (more arrivals than departures) of 5,000 migrants in November 2014
- This is the second-highest net gain ever recorded – just below the net gain of 5,200 recorded in October 2014.
- Monthly net gains increased over the last year, mainly due to more arrivals of non-New Zealand citizens
- In the November 2014 year, New Zealand recorded its highest-ever net gain of 49,800 migrants
Strong migration numbers have implications for Reserve Bank of New Zealand policy:
- Concerns about strong immigration are the main reason behind the Reserve Bank’s decision not to ease controversial home lending rules.
- Governor Wheeler warned that there were still risks of a resurgence in the housing market, pointing out that over the last two years migration figures had consistently been stronger than expected.
