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REINZ Welcomes Insulation Funding Announced In Today’s Budget

The Real Estate Institute of New Zealand (REINZ) has welcomed the announcement in today’s Budget that $56 million has been allocated to insulate 9,000 older homes.

Bindi Norwell, Chief Executive at REINZ says: “Warmer, drier homes is something that REINZ has been advocating for over the past few years, so we welcome today’s announcement as one that will help more Kiwis to have better health outcomes and as a step to helping prevent respiratory illnesses.

“The biggest problem with insulating older homes, has always been people’s ability to pay outright for the insulation even if a subsidy has been in place. This has been particularly difficult for lower incomes families.

“Today’s announcement increases the grant available from 67% to 90% which will go a long way to ensuring that people have a warmer home this winter and one that is more cost-effective to heat – especially as people are already facing additional financial pressures as a result of COVID-19,” she concludes.

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