The permanent Migration Program is only one component of net overseas migration (NOM). NOM includes temporary migration, such as Working Holiday Makers and Students. It also includes Australian citizens, New Zealanders and Humanitarian migrants.
The size of the permanent Migration Program has not increased since 2022–23 and it is not the reason for recent increases in NOM. The permanent Migration Program has only a partial impact on NOM in the near-term. Around 60 per cent of visas under the permanent Migration Program are granted to migrants already onshore and in the community, residing in established households at the time of visa grant. This minimises the permanent Migration Program’s near-term impact on housing, infrastructure and services.
You can find further details about NOM on the Australian Bureau of Statistics website. Details about NOM projections are at the Centre for Population’s National Projections.
refrence:https://immi.homeaffairs.gov.