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REINZ: Potential impacts of COVID-19 on the housing market

Please find below the following comment from the Real Estate Institute of New Zealand (REINZ) in relation to the potential impacts COVID-19 may have on the housing market. All comments are attributable to Bindi Norwell, Chief Executive at REINZ

KiwiSaver & Saving
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Concern increased retirement contributions could result in backdoor education cuts

Concern increased retirement contributions could result in backdoor education cuts

The education sector union NZEI TE Riu Roa is calling on the government to come clean about how increased employer contributions to Kiwisaver and other retirement schemes will be funded for the education sector.

Home Loans
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Kiwibank slashes five-year rate

Kiwibank is slashing its five-year home loan rate in response to market conditions as a result of the Reserve Bank’s change in outlook today (Wednesday 27 March).

Employment
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Covid-19: Essential workers need Fair Pay Agreements - CTU

The Council of Trade Unions is calling on employers and industry to continue to value those people who have done essential work during the level 4 lockdown.

Tax
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Strengthening the TPB's role in protecting consumers of tax services

Chair of the Tax Practitioners Board (TPB), Mr Ian Taylor, welcomes tonight’s Federal Budget announcement to provide the TPB with ongoing additional funding.

Prices & Spending
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Discretionary spending increases

Discretionary spending increases

Figures released today by Paymark, which processes around 75% of all electronic transactions in New Zealand, show that Kiwis spent a total of just over $4.6 billion in December via Paymark's network, pushing the annual growth rate up slightly to 3.4 per cent.

Investing
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Antarctica comes to Auckland Museum this August

Step ‘inside’ the historic huts of Antarctic explorers Captain Robert Falcon Scott and Sir Ernest Shackleton to relive a time of extraordinary polar exploration in a new exhibition based around the work of New Zealand photographer Jane Ussher.

Business
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COVID-19 lockdown and gross domestic product for March and June 2020 quarters

COVID-19 lockdown and gross domestic product for March and June 2020 quarterssummarises the data source, methodological, and conceptual challenges to the compilation of quarterly gross domestic product (GDP) for the March and June 2020 quarters due to COVID-19.

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