December 3rd, 2010
The Irish Effect on New Zealand Real Estate.
Hard to escape the news this year regarding the once bustling “Celtic Tiger.”
If what the BBC suggest, things are looking a tad different now;
The Celtic Tiger is in intensive care and young people are rushing for the exits.
They go on;
With a third of under-25s out of work it is the young who are most likely to leave, with Australia, New Zealand and Canada ahead of the UK as destinations according to last year’s figures
Not without precedent though, Irish have been leaving their shores for a long time.
The International Business Times suggests it “what the Irish do”;
After enjoying nearly two decades of an unprecedented economic prosperity at home, many Irish are now seeking to leave for greener pastures elsewhere as the nation finds itself on the brink of an economic collapse.
They go on;
Indeed, statistics from the Australian Immigration Department indicate that Irish arrivals Down Under have increased by 50 percent over the past two years.
I’ve written previously, the Irish are the only ones who “pip” NZ when it comes to the percentage of their home countries population that are “ex-pat” at any one time.
Serial “media headline attention acquirer” and Irelands’ equivalent to Richard Branson, Rynairs top man Mike O’Leary, dressed as an undertaker, taking the opportunity to display a hearse with a coffin onboard painted up in the Irish national colours. Later he was seen with a wreath that said; Irish Tourism – R.I.P.
Too early to call yet, but wonder what effect this may have on real estate down-under. Like before, once things start to pick up, perhaps the NZ real estate market could indeed see the Irish inject some extra activity down-under?
Back in 2001, Warehouse founder Sir Steven Tindal set up KEA (Kiwi Expat Association).
Yesterday KEAjobs issued a Press Release……and the theme of that release…….
Believing that attracting expats back home is key to the growth of New Zealand’s economy, KEA has launched a new online tool to allow NZ employers greater access to the highly skilled Kiwi expat population (KEA claims 30,000 members overall)
They too, also comment about the high percentage of Kiwi’s still residing offshore……
New Zealand has the most globally dispersed population in the OECD with a staggering 25% of our highly skilled population living off shore.
Read more on Keajobs here.
Will these Irish migrants be different from the past? BBC News Magazine Article, Nov 23th 2010 here.
UPDATE 5th Dec
– it is also starting to look more likely, if the above headline is anything to go by, that even some in the antipodes may feel the effect of whats happening back up north.
ANOTHER UPDATE 5/12/2010