23 November 2009

New Zealand immigration growth highest in five years

New Zealand’s immigration growth reached the highest level in more than five years in the year to October, a further indication that consumer spending and increased demand for housing may speed the economy.

In the year ending October 31, New Zealand immigration numbers saw an increase of 18,560 permanent migrant arrivals, up from 17,043 in the 12 months through September and the most since the period ended August 2004.

The increase in immigration and the numbers of permanent migrants coming to work in New Zealand has coincided with a rise in retail spending and consumer confidence reaching a 22-month high.

Permanent migrants who wish to emigrate and work in New Zealand must have a New Zealand visa to do so.

Reserve Bank Governor Alan Bollard last month said rising house prices and a building increase in household spending were buoying the economy, which grew in the three months ended June 30.

The increase in net New Zealand immigration, reported by Statistics New Zealand, has been boosted by the fact that fewer New Zealanders heading overseas and permanent departures fell 18 per cent in the year ended October 31.

 Statistics New Zealand says that amounts to 15,600 fewer citizens leaving permanently in the year ended October 31 compared with the year earlier.

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The New Zealand Visa Bureau is an independent consulting company specialising in helping people with their New Zealand Visa applications through the New Zealand Embassy.