The number of work and residence visas being approved appear to be heading back towards their long term norms.
According to the latest figures from the Ministry of Business Innovation and Employment, which incorporates Immigration NZ, the number of work visas being approved has declined for three consecutive months, from 20,610 in February to 14,190 in May.
May's number was the lowest number approved in any month of the year since August 2022, and is well down from the post-Covid-19 border closure peak of 28,440 in October 2022.
It is also well below pre-pandemic levels when 21,021 work visas were approved in May 2019.
As the first graph below shows, the number of work visas being approved appears to be heading back towards its long-term norms after a substantial post-border closure spurt in 2022/23.
Residence visa approvals appear to be following a similar trend.
There were 1932 residence visas approved in May which, along with the 1797 approved in April, were the only months where the number of approvals has dropped below 2000 a month since November 2021.
That follows a huge surge in residence visa approvals from January 2022 to June last year, where in all but three months more than 10,000 residence visas a month were approved.
Most of those approvals were processed under the 2021 Resident Visa Approval Scheme, which fast tracked approvals for people who had already been in New Zealand long-term on work visas.
More than 211,000* residence visas were approved under the scheme, which has now been discontinued.
The second graph below shows residence visa approval trends.
*An earlier version of this story understated the number of residence visas approved under the 2021 Residence Visa Scheme as more than 153,000.
- The comment stream on this story is now closed.
•You can have articles like this delivered directly to your inbox via our free Property Newsletter. We send it out 3-5 times a week with all of our property-related news, including auction results, interest rate movements and market commentary and analysis. To start receiving them, register here (it's free) and when approved you can select any of our free email newsletters.
We welcome your comments below. If you are not already registered, please register to comment
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.