Net overseas migration has fallen by about 45 per cent since its peak in 2023. (Bianca De Marchi/AAP PHOTOS) Credit: AAPAustralia's net overseas migration has almost halved from its post-COVID peak as the nation grapples with the white-hot issue. Net overseas migration has fallen by more than 250,000 people since its September 2023 peak, the Committee for Economic Development of Australia (CEDA) found. The coalition has promised to limit net overseas migration, equivalent to the number of homes built in the previous year. "But the data shows migration is already falling driven by lower arrivals and as departures return to more normal levels, net overseas migration will drop further.