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Published on June 22nd, 2009 | by john.weir

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Immigration to New Zealand hits two year high

The number of permanent migrants to New Zealand exceeded departures by 11,202 in the year through May, Statistics New Zealand said in a report released today in Wellington. That’s more than 9,176 in the 12 months ended April and is the highest annual tally since April 2007. It also signals a turn around in the fortunes of the economy

Reserve Bank Governor Alan Bollard said this month the economy may resume growing in the fourth quarter, ending the worst recession in more than three decades. Rising immigration may provide a boost to domestic demand and the property market, he said in his quarterly monetary policy statement on June 11.

“The gain in migration represents a tangible positive ingredient for underlying housing demand,” said Robin Clements, chief economist at UBS AG in Christchurch. “The drag that housing has placed on GDP growth is set to fade.”

You can find out more abour emigrating to New Zealand at Down Under Live in Birmingham and London.



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