KEY POINTS:
A net 1,009 New Zealand residents emigrated in March, with Australia shooting ahead as the favoured destination.
The increasing number of emigrants to Australia more than overwhelmed net immigration from China, India and the United Kingdom.
Net migration in the year to March was 4,678, down from 12,081 the previous year.
News of falling net migration will add further downward pressure on sales and new building in the housing market, which is closely linked to demand from net migration.
This will also please the Reserve Bank, which has pointed to lower migration as a factor taking some of the inflationary heat out of the economy and helping to avoid an interest rate hike.
Statistics NZ figures show net migration to Australia rose to 3,081 in March from 2,775 in the same month a year earlier, while the cumulative total of net migration to Australia in the year to March rose to 29,892 from 23,266 in the previous year.
Breaking out the New Zealand citizens from the total migration number shows the number of New Zealand citizens (as opposed to New Zealand citizens plus non-citizen residents) leaving for Australia rose to 38,738, the highest since 2001.
This means an average of 106 New Zealanders left each day for Australia in the last year, while 121 left each day in March. Net migration of citizens to Australia of 30,219 in the year to March was at its highest level since 31,938 in the year to March, 2001.
The biggest individual source of migrants was the United Kingdom with 6,894 in the year to March, down from 10,235 the previous year. The next biggest contributor was India with 4,159, almost double the 2,536 the previous year.
The Philippines was also a big mover, increasing to 3,262 from 2,714 the previous year. South African net migration increased to 2,129 from 1,597.
- INTEREST.CO.NZ
