Australian Economy Immigration New Zealand Economy

Why New Zealand migration to Australia will fall

Wednesday 29 July 2026

Over recent years, Australia has received large volumes of migrants from New Zealand, as illustrated by the following chart:

In the 2025 calendar year, Australia received 28,500 net overseas migrants from New Zealand, down from the recent peak of 32,100 in mid-2024.

Over the last 21 years, the net migration of New Zealanders to Australia has averaged 19,000 annually, with significant swings depending on the relative position of each nation’s labour market:

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.