The Premium Debate: Subscriber views on Kāinga Ora bidding up Ferncliffe Farms price

Building and Construction Minister Megan Woods. Photo / Mark Mitchell

OPINION:

State housing agency Kāinga Ora was only cosmetically restricted to market pricing in its surprisingly rich, winning bid of $70.4 million for a rural Tauranga tract of land, Ferncliffe Farms, last year. While the agency obtained two valuations for the property, the details of each were likely to result in an artificially high price, Government documents obtained under the OIA suggest. Critics say the case illuminates how the Government is using taxpayer funds to bid up land prices, unnecessarily baking additional cost into the "affordable" homes it hopes to build.

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This government and its ministries are totally out of control. Is there nobody that can stop the senseless drunk spraying of hard-earned taxpayers' money around for no benefit? They either don't realise or care how they themselves have driven some negative and unintended consequences into inflation and the housing market. But somehow they are aware enough to try and spin their way out of it.
- Emma C

How can Kāinga Ora buy land at outrageous prices and then build affordable houses? Is the government now subsiding housing?
— Tony K

House in our street for sale a year back, the agent was keeping the neighbours informed on the sale (trying to get more listings). It had two first home buyers in a multi-offer with Kāinga Ora. Kāinga Ora won out with higher offers and no terms (finance, builders report, etc). Sad news of those that believe the Labour Party line that its investors outbidding first-home buyers.
- Jan W

Yet another example of both inept management and appalling governance.
- John H

Heaven help us! It just goes on and on, the senseless waste of taxpayers hard earned money! Surely Govt can do basic due diligence when spending these vast sums of money!!
- Wayne J W

It is actually "our" money, not the "governments"? If this government was a private company its shares would be worthless?
- Colin B

This is the biggest waste of taxpayer money.
- Gary R

Kāinga Ora faces 60 years of unmanageable debt, Megan Woods was recently warned. Yet they are wasting our money on this, regardless. How much will our taxes have to go up by, to pay for all Labour's waste?
- Stephen H

This crowd need to go. The amount of money being sprayed with apparently zero accountability is truly unbelievable and unforgivable.
- Mark C

All I can hear is the rather large echo of where the Auditor General should be.
- Emma C

- Republished comments may be edited at the editor's discretion.

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