The Government is hoping the Kāinga Ora board refresh will turn around its financial losses around.

A new chair and deputy and six board members have been appointed to oversee the housing agency.

It follows a damning review from Sir Bill English that concluded Kāinga Ora is not financially sustainable.

Housing Minister Chris Bishop has also issued a Letter of Expectations demanding better performance.

Bishop says the review of the agency recommends it reduce overhead and cut costs to become more financially viable.

"Their build program is also something where I'd like to see them make real efficiencies in savings as well."

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