Nearly half the population changed address between 2018 and 2023

New Zealanders are a mobile bunch, judging by Stats NZ data. According to the 2023 Census, 2.2 million people – about 45% of the population – changed addresses within New Zealand between 2018 and 2023. This was a slight increase from the 44.6% recorded in the 2018 Census.

Most movers stayed within their region, with 77% relocating locally, although a significant 23% made inter-regional moves.

Inter-island migration patterns revealed that in 2023, at least 4% of each South Island region's population had lived in the North Island in 2018. Otago had the highest rate of inter-island migration, with 9.9% of residents in 2023 having lived in the North Island in 2018. Conversely, less than 2% of most North Island regions' 2023 populations had lived in the South Island in 2018, with Wellington being an exception at 2.6%.

Auckland experienced a net internal migration loss, with approximately 50,000 more people leaving for other parts of the country than moving in between 2018 and 2023. The most common destinations for those leaving Auckland were Waikato, Northland and Canterbury.

Upgrading your home? Bridging finance can help

If you're among the many Kiwis considering a move, upgrading to a new home can be both exciting and challenging. One common hurdle is managing the financial gap between purchasing a new property and selling your existing one. This is where bridging finance comes into play.

Bridging loans are short-term financing options that provide the funds needed to purchase a new home before selling your current one. They can offer flexibility and peace of mind, ensuring you don't miss out on your dream home due to timing issues.

However, it's essential to understand the terms and conditions associated with bridging finance, as interest rates and repayment structures can vary.

If you’re considering a move and want to understand how bridging finance could help, please get in touch to discuss your options.