Based on those figures, it's not hard to see why New Zealand has a housing crisis, especially in our largest city, Auckland.
Labour's plan, among other things, would stop overseas students getting visas to low-value courses that it says can serve as a back door for immigration.
Labour says it will also strengthen the Labour Market Test for work visas so they are not being used for jobs Kiwis can do, and make our skills shortage lists more regional so migrants coming in under them can only live and work in areas where there is a genuine skills shortage.
National MP Simon Bridges this week said the policy would stop thousands of skilled people migrating to New Zealand who played a key role in the country's growing economy.
It's a valid concern but, in my view, the country needs to take a step back and assess how many new arrivals it can cope with rather than struggling to keep up with demand. A regionalised immigration system could also benefit the Bay.
Perhaps, if we apply the brakes now, industries might also have time to steer young Kiwis towards trades and professions that will help address the skills shortage.