Housing demand under threat from new migration data

Statistics NZ has changed its approach for estimating international migration from an “intentions-based” methodology to an “outcomes-based” methodology. The new figures suggest that New Zealand’s population might be smaller by 48,800 people than previously thought. More details on the two migration measures and the variations between them 2001 can be found in How big is our population really? But if Statistics NZ has previously overestimated the population so much, what could it mean for the residential construction industry and demand for new dwellings?