Sale of high-value villa to fund new and improved state homes

The villa at 18 Trinity Street, Ponsonby, Auckland, has a rating valuation of $3.15 million and sits on a generous 619sqm section.

Kāinga Ora Chief Executive Matt Crockett says selling high-value properties like this one will enable more families to benefit from modern, fit-for-purpose homes.

“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.

“Half of our state houses are more than 50 years old – they’re costly to maintain, need significant upgrades, and often no longer suit our tenants’ needs. Being a responsible asset manager means improving or replacing these ageing homes.

“The 102-year-old Ponsonby villa, while charming, is expensive to maintain and requires frequent repairs. Instead of continuing to fund its upkeep, Kāinga Ora will redirect the proceeds from its sale into new homes that are the right size, healthy, and in the right locations.”

The property will be sold on the open market. Kāinga Ora has already supported the previous tenant to relocate to another home.

For more information:

• 18 Trinity Street, Ponsonby, Auckland real estate listing(external link)
• Selling Kāinga Ora properties
• Media resources