When the latest Q4 2024 net overseas migration figures were released by the ABS in June, they revealed that annual rolling net migration had fallen to 340,800.
While this represented a significant reduction from the peak of 555,800 recorded in Q3 2023, it remained significantly higher than the 250,000 initially forecast by the federal Treasury.
However, the data from ABS on migration flows since then suggest that migration has not only stopped falling but has reaccelerated.