PRESSURE ON HOUSING STOCK INCREASING

Record NZ migration keeps heat on housing
JAMES WEIR
February 26 2015


The migration boom continued in January with a gain of 5500 people, a new monthly peak, continuing to help stoke demand for housing.

A slowdown in migrant numbers in December may have just been a “blip” economists said.
The gain in the year to the end of January hit a new record high of 53,800, more than double a year earlier.

More migrants are coming in, especially on work visas, and fewer New Zealanders are leaving for Australia.

Arrivals outnumber those leaving New Zealand by two to one, reflecting the strong job economy here, especially compared with Australia, ANZ economists said.

The annual migration gain was expected to hit a new peak of 60,000 by the middle of the year, ANZ said, 50 per cent higher than the previous peak more than a decade ago.

Link:

http://www.stuff.co.nz/business/industries/66679614/record-nz-migration-keeps-heat-on-housing

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