New Zealand immigration figures continue to rise
Last month’s net migration statistics for New Zealand show that the figure has been rising throughout 2013. The reasons for this include a greater number of people migrating into the country from overseas and fewer Kiwis deciding to move to Australia. It seems that Australia has become less attractive as the high salaries and job prospects that used to pull in New Zealanders continue to decline.
According to Statistics New Zealand emigration across the Tasman has been declining since the beginning of the year. Although there were two years of net losses from Christchurch following the devastating earthquake, a push to encourage foreign workers to come to the city to help with the massive rebuild appears to have reversed the trend.
Economic experts expect the improved prospects at home and decline in the attractiveness of Oz as a country in which to find a job will mean net immigration figures will continue to climb. This is likely to be positive for consumer demand and housing in New Zealand.
By the end of next year some believe that net immigration will have risen as high as 25,000.
Lending restrictions being introduced by the Reserve Bank, along with higher mortgage interest rates, are likely to bring down real estate market inflation by the end of next year. The number of tourists entering New Zealand is also likely to continue to rise, especially from China and Australia.
The NZD exchange rates on 24/09/2013 were as follows: GBP NZD = 1.9401, EUR NZD = 1.6335, USD NZD = 1.2125, AUD NZD = 1.1382, CHF NZD = 1.3278, INR NZD = 0.0194, AED NZD = 0.3304, MXN NZD = 0.0935, CAD NZD = 1.1768, ZAR NZD = 0.1228, RUB NZD = 0.038, . See today's New Zealand Dollar Exchange Rate
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