24 Nov 2014

Economy lures work-seekers to NZ

12:56 pm on 24 November 2014

The number of people moving to New Zealand or staying long-term has hit an all time high for the third month in a row.

Official figures show a net gain of 5200 people in October, as a fast-growing economy attracts foreigners looking for work, while also keeping more New Zealanders at home.

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Students from India led the numbers of people from overseas coming to New Zealand long-term.

On an annual basis, the country recorded its highest ever net gain of 47,700 people in the year to October.

However the increase may mean limits on low-deposit lending stay for longer.

Earlier this month the Reserve Bank said it was too earlier to lift restrictions because a surge of immigration could push up house prices.

The annual net loss of 5,300 people to Australia is the smallest in 20 years.

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