Watch video on YouTube here. Watch on our video page here. Alex Tarrant presents an Economic Weather Report in association with ASB. This report looks at net permanent and long term migration from New Zealand to Australia, which has been dropping off in recent months as more Kiwis opt to stay put instead of making the move across the Tasman. Net migration to Australia was 758 in the month of October this year, similar to levels in September and August. The net monthly figure has not been this low since September 2003. It is down from more than 4,000 in January 2009 and 2,653 in October last year.
Annual figures show the same trend. There were 21,207 net migrants to Australia in the year ended October, down from 34,632 in the year to October 2008 and the peak of 35,395 in the year to December 2008. The big factor here is fewer Kiwis moving away across the ditch. Departures to Australia in the month of October were half of what they were a year ago, while arrivals have risen by much less. The question now is whether this trend will continue? January is traditionally the big month for Kiwis moving to 'the lucky country'. We may see a pick up in departures as those who have put off making the leap this year make the choice in the new year as they see Australia's economy bounce back more than New Zealand's. See the second tab on the chart below for annual net migration from NZ to Australia: