Annual migration levels have fallen slightly in Australia but still remain above budget forecasts.
Figures released by the Australian Bureau of Statistics on Thursday revealed net overseas migration in 2025 came in at 301,000 people.
The figures were down a fraction from the 306,000 in 2024, while the federal budget released on May forecast migration will fall to 295,000 in the year to June.
The timing of the data follows a debate surrounding migration levels, with the coalition criticising the government for underestimating the numbers and One Nation calling for a more dramatic cut to the rate.
Treasurer Jim Chalmers said the migration rate had fallen by almost 50 per cent from peaks experienced after the COVID pandemic.
"Migration was surging when we came to office and it has now moderated substantially," he said in a statement.
