A new visa that would take one week to approve is being introduced to lure skilled workers over to Australia.

Applicants from pre-approved fields will be fast-tracked over as part of an initiative to return overseas migration to a sustainable level.

Australia's net migration level is believed to have peaked last financial year at 510,000 and forecast to fall to more normal levels, down to 375,000 next year and 250,000 in 2025.

Australian correspondent Oliver Peterson says the Government plans to revise their migration strategy to let less people in overall.

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