Permanent migrant numbers hits 41-month high: CommSec and ABS

Jonathan ChancellorMarch 5, 2012

The number of permanent settlers entering Australia hit a 41-month high of 14,210 in January, according to the RBA.

During the past year 146,430 people came to Australia as permanent settlers – a two year high.

Retailers, builders and building material suppliers will celebrate the lift in migrant numbers, according to Craig James, chief economist at Commsec.

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“Simply if there are more people arriving in Australia to work, that means there will be greater demand for homes, cars, household appliances and a raft of other goods and services.

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“Population is power, lifting economic growth and momentum,” he says.

The number of people settling permanently in Australia hit the highest levels in 3½ years in January.

About 14,000 people are arriving each month, compared with lows of around 9,500 a month in late 2010.

 

 

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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