PHOTO: Kāinga Ora. FILE
In a move that’s set to spark national debate, Kāinga Ora has confirmed it will sell New Zealand’s most valuable state house — a 102-year-old Ponsonby villa valued at more than $3 million.
The historic home, located at 18 Trinity Street on the border of Ponsonby and Herne Bay, sits on a 619m² section and carries a rating valuation of $3.15 million. It is surrounded by some of Auckland’s most exclusive properties.
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Why is Kāinga Ora selling it?
Chief executive Matt Crockett said the decision was purely financial and practical:
“We can’t justify holding onto such a valuable house in one of Auckland’s most affluent suburbs when selling it allows us to build or upgrade more state homes where they’re needed most.”
Crockett revealed that half of the country’s state houses are over 50 years old. Many require costly upgrades and no longer suit the needs of tenants. Selling this multi-million-dollar villa will free up funds to maintain, modernise, and build new homes in areas of higher demand.
What happens next?
The current tenant has already been relocated to another property, ensuring a smooth transition. Proceeds from the sale will be reinvested into state housing stock that is warmer, healthier, and more suitable for modern families.
Crockett noted the villa had become a maintenance headache, requiring frequent repairs due to its age.
“Instead of sinking more money into it, we’ll reinvest into homes that are the right size, in the right places, and fit for the future.”
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The bigger picture
This sale highlights the tough balancing act Kāinga Ora faces: managing a billion-dollar housing portfolio while addressing New Zealand’s ongoing housing crisis. While the sale may raise eyebrows given Ponsonby’s prestige, the agency insists the move is about maximising value for taxpayers and delivering more homes where they’re needed most.
SOURCE: RNZ