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New Zealand’s permanent and long-term net migration inflows rose by 260 in August to 5,010 (seasonally adjusted), but at 63,300, annual net inflows are now down 12.6% since the cycle peaked in July 2017, notes the research team at ANZ.

Key Quotes

“Arrivals rose by 180 in the month  to 10,790 (sa), with no change in New Zealand citizen arrivals, Australian citizens down and other country citizens up.”

The 80 person (sa) fall in departures  (to 5,780) was driven by fewer New Zealanders (down 20), and other citizens (down 75), with a small increase in Australians leaving.”

Short-term visitor arrivals rose  a solid 2.8% m/m (sa), with tourist numbers, particularly from China, remaining high.”

Despite the small monthly uptick, we expect annual net migration inflows to continue easing from here.”