Be it due to subdued economic conditions or high cost of living pressures, or other factors, migration levels to Australia are falling fast.
According to Commsec, citing overseas arrivals and departures data released by the Australian Bureau of Statistics earlier today, net migration — simply arrivals less departures — fell to 263,920 in the year to May, the lowest annual total since March 2007.
That equates to around 1.1% of Australia’s total population.
Here’s the rolling annual total in net migration to Australia over the past three decades, courtesy of Commsec.
Business Insider Emails & Alerts
Site highlights each day to your inbox.