April migrant growth could mean good news for property market, say economists

A migrant-driven boost for the New Zealand property market is being tipped by economists studying new visitor arrival numbers released this morning.

Statistics New Zealand released immigration and visitor data showing permanent and long-term arrivals exceeded departures by 400 in April, compared with a net outflow of 1,300 in April last year. The increase was mainly due to 1,600 fewer long term departures of New Zealand citizens.

New Zealand's annual net migration balance was a gain of 9,200 in the April 2009 year, up from 4,700 in the April 2008 year.

While the number of Kiwis leaving these shores for good has fallen, the number returning home to live has only increased slightly - with 24,500 in the April 2009 year, just above the annual average of 23,400 seen for the 1979-2008 December years.

To read the full NZ Herald story click here

Posted: 22 May 2009

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