Net permanent & long-term arrivals remains historically high

The Albanese government continues to import people into Australia at a furious rate, with 96,110 net permanent and long-term (NPLT) arrivals in February, the third-strongest February result on record, behind 2025 (111,740) and 2024 (105,460).

Over the year to February 2026, 478,910 NPLT arrivals landed in Australia, down from the all-time peaks of 498,270 recorded in February 2024 and 494,540 recorded in January 2026:

However, as you can see above, NPLT arrivals are tracking at historically high levels.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.