The country’s most valuable state house is in the Auckland suburb of Ponsonby and is worth almost $4m.
Photo: RNZ / Marika Khabazi
Kāinga Ora has sold its most valuable state house at auction for $3.4 million.
The four-bedroom villa at 18 Trinity Street sits on the edge of Ponsonby and Herne Bay, two of Auckland’s richest suburbs, is on a 619 square metre section and has a ratings valuation of $3.15 million.
It is 102 years old and has required frequent repairs.
A bidding war brought the price up to $3.223 million, just above its ratings valuation.
That was followed with an hour-long negotiation, with the winner finally increasing their offer to $3.4 million.
Kāinga Ora chief executive Matt Crockett said the sale would be used to fund maintenance and new housing.
The tenant had already been moved to a new home, he said.
Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.