For the fourth month in a row, more people moved to New Zealand than emigrated.
Data released this morning showed more migrants arrived in October this year than at any time since March 2020.
Stats NZ said arrivals outnumbered departures by 3343, a similar net gain to the 3430 reported in September.
Since August, migrant arrival and departure numbers have both been rising.
Kiwibank economists last week predicted the turnaround in net migration would continue.
“And we’re forecasting significant net migration inflows of over 30,000 people next year,” Kiwibank added.
In fact, if the average gains reported in September and October persisted for a whole year, that would equate to a net inflow of more than 40,000 people.
For months many businesses have been desperate for more staff, and the migration trend may bring some relief to the labour crisis.
But Kiwibank said high net migration could be a mixed blessing, at least for the Reserve Bank.
“While rising net migration will provide some relief to firms crying out for workers, it will also add to the demand for everything.”