Along with the beaches, the weather and the lifestyle, many Kiwis make the move to Australia for money.
But as Australia goes through an economic downturn, some are now questioning whether life across the Tasman is right for them.
"I actually feel that I've been going backwards", said Michael Valk, a Kiwi expat who's lived in Brisbane for more than 30 years.
"I have my own little business, I used to employ people, I don't employ people anymore because it's just too expensive."
He told 1News he's planning to move back to the South Island.
Michael Valk has lived in Australia for more than 30 years, but says now is the time to return to NZ because "it's just too expensive". (Source: BNZ Business Breakfast) (Source: Other)
"I don't like the way Australia's heading. I figure if I'm gonna go through it I might as well go through it in the country I was born in."
Though wages in Australia are generally 20-30% higher compared to New Zealand, Paul Bloxham at HSBC bank said: "New Zealand's labour market is certainly looking like it's moving into better shape than Australia's over time."
Inflation, unemployment
The Reserve Bank of Australia has lifted its official interest rate three times this year in a bid to get inflation under control and, by design, that's funnelling through to the labour market.
Figures out last week from the Australian Bureau of Statistics show unemployment is trending up, at its highest level in the post-Covid era at 4.5%.
Meanwhile wage growth is slowing - at 3.2% compared to 3.4% at the same time last year.
While unemployment in New Zealand is hovering around its highest level in more than a decade, at 5.6%, according to recent Stats NZ figures, Bloxham said the economy is starting to show some green shoots when compared to Australia.
He said: "I think one of the real clear signs of that is job advertisements have been rising in New Zealand and they've been trending lower in Australia."
It seems the exodus of Kiwis to Australia is also slowing.
Provisional data from Stats NZ shows a net total of 28,500 people making the move last year, lower than the more than 31,000 the year before.
"I think the tide has turned", said Bloxham, who is HSBC's Chief Economist for Australia, New Zealand and Global Commodities.
"That should start to show through in terms of some of the decisions Kiwis make, whether they move to Australia or stay at home, and some of those who've already moved here may make decisions to move back to New Zealand."
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