New Zealand had a seasonally-adjusted net gain of 2800 migrants in November, according to Statistics New Zealand

A combination of fewer Kiwis leaving and more people arriving from overseas is seeing the net inflow of permanent and long term migrants continuing.

Statistics New Zealand said that in November the country had a seasonally adjusted net gain (more arrivals than departures) of 2800 migrants.

This is the first drop in the numbers of net gains since July and compares with the 10-year high of 3000 net inbound migrants in October.

However, the figures remain strong. If the last three months gains are averaged and then annualised this gives a current inbound rate of 34,000 - which is heading toward historic highs.

ASB economist Daniel Smith said strong net migration has been highlighted recently by both the Treasury and the RBNZ as a key factor in NZ’s economic outlook.

"Strong inflows will add to domestic demand and place further pressure on supply-constrained housing markets in Auckland and Christchurch. While additional workers may ease some capacity pressures, especially with regard to the Canterbury rebuild, the net effect is likely to be higher interest rates than otherwise would have been the case."

Stats NZ said the seasonally adjusted net loss of 1000 migrants to Australia in November 2013 was just up from the previous month (900). Apart from small increases in the last two months, the net loss to Australia has fallen steadily since December 2012 (3300).

In the November 2013 year, migrant arrivals numbered 93,000, the highest since the November 2003 year (93,400). New Zealand had a net gain of 19,500 migrants, compared with a net loss of 1600 in the previous year.

Seven of New Zealand's 16 regions had net gains of migrants, led by Auckland (9600) and Canterbury (4300). Net migration was higher than in the November 2012 year in all regions. 

In the latest year, New Zealand's net loss to Australia dropped to 22,100 migrants, compared with 38,800 a year earlier. Net gains were recorded from most other countries, led by the United Kingdom (5900), China (5600), and India (5300).

The Christchurch rebuild has seen more people coming in on work-related visas, while the fewer numbers going to Australia reflect that fact that at the moment the Australian economy is not viewed favourably compared with New Zealand's immediate prospects.

The strong pace of net inbound migration will inevitably put more pressure on New Zealand's heated housing market, particularly in the very hot Auckland market - as generally around half inbound migrants settle in the country's largest city, at least initially.

The highest net inflow ever recorded was 42,500 in the May 2003 year. The highest net outflow was 43,600 in the July 1979 year.

Meanwhile Visitor arrivals to New Zealand numbered 251,100 in November 2013, a new November record. The number of arrivals rose 8% from November 2012, with holidaymakers accounting for most of the increase.

"New Zealand welcomed 15,200 more holidaymakers compared with the same time last year," Stats NZ's population statistics project manager Susan Hollows said.

"These extra visitors came mostly from Australia, the United States, and Germany."

In the November 2013 year, visitor arrivals rose 5% from the previous year to reach 2.7 million. More visitors came from Australia (up 52,700), China (up 36,400), and the United States (up 19,000).

New Zealand residents departed on 171,300 overseas trips in November 2013, down 1% from November 2012. Over the year, New Zealand residents took 2.189 million trips, up 1% from the previous year. The most common destinations were Australia (1.005 million), the United States (140,800), Fiji (110,100), and the United Kingdom (96,300).