REINZ Chief Says Eight-week Extension Of Wage Subsidy Scheme Will Help Support Housing Market

Bindi Norwell, Chief Executive at REINZ says, “Some of the key indicators we’ll be watching over the coming months as we look for the housing market to recover from COVID-19 includes the unemployment rate and confidence levels. The eight-week extension of the wage subsidy scheme announced in today’s Budget will be central to these two indicators as it will mean people will be able to continue employing staff, and individuals will have a greater ability to continue paying their rent or mortgage over the next two months.

“Additionally, the $3 billion announced to fund infrastructure projects, on top of the $12b announced prior to COVID-19 will help deliver important infrastructure projects across the country and bolster employment opportunities in the regions, further adding to local confidence levels,” points out Norwell.

“We also welcome the 6,000 state and 2,000 transitional houses that will be built in partnership with housing providers over the next four to five years. Not only will this add to local employment opportunities, it will also help ease some of the housing supply shortage,” she concludes.

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