Kāinga Ora is under fire after Wellington's Dixon Street Flats were re-sold for almost triple the price.

The Government housing agency initially sold the flats to Taranaki Whanui earlier this year for just over $1 million.

Nearly three weeks later, the flats had been re-sold to a prominent Wellington developer for $3 million - a move Kāinga Ora has gone on to defend.

Wellington City Councillor Ben McNulty says this won't be good for the taxpayers - but the opportunity cost of potentially bartering for ages was higher.

"From a Wellington perspective, we're just glad to see something happening."

LISTEN ABOVE

Kāinga Ora is under fire after Wellington's Dixon Street Flats were re-sold for almost triple the price.
The Government housing agency initially sold the flats to Taranaki Whanui earlier this year for just over $1 million.
Nearly three weeks later, the flats had been re-sold to a prominent Wellington developer for $3 million - a move Kāinga Ora has gone on to defend.
Wellington City Councillor Ben McNulty says this won't be good for the taxpayers - but the opportunity cost of potentially bartering for ages was higher.
"From a Wellington perspective, we're just glad to see something happening."
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Ben McNulty: Wellington City Councillor on Kāinga Ora selling off the Dixon Street Flats

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/96a98d7d-21b1-41a5-b192-b368003b9caf/transcript

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