- Kāinga Ora has discounted five flood-damaged homes in Auckland, with prices significantly below market value.
- Three South Auckland homes worth over $2m are listed for $1.45m.
- Kāinga Ora encourages buyers to do due diligence, with more flood-damaged properties possibly for sale.
Kāinga Ora has heavily discounted the prices of five homes it has listed for sale in Auckland.
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Three South Auckland homes worth more than $2 million are up for grabs for just $1.45m, while a $1m four-bedroom house on the city’s North Shore can be scooped up for just $400,000.
Another home in West Auckland has an RV of just over $1m but is expected to sell for less.
The catch? All five properties were damaged in the 2023 Auckland Anniversary weekend floods.
Gareth Stiven, Kāinga Ora’s general manager of strategy, finance and policy, told OneRoof that the agency encouraged prospective buyers to do their due diligence.
The listing for 43 Wilsher Crescent, in Henderson, Waitakere, states the home is flood-damaged but can be transformed. Photo / Supplied
Kāinga Ora said in 2023 that 590 of its homes were damaged in the Auckland Anniversary floods, but Stiven told OneRoof that figure was out of date. He could not say how many more flood-damaged properties Kāinga Ora was likely to sell in the coming months.
“We are still considering options for further properties, including working with Auckland Council on flood mitigation plans. This work is ongoing, “ he said, adding that homes that were badly damaged and too costly to repair were left vacant.
Kāinga Ora confirmed to OneRoof that five of the 33 Auckland homes it had listed for sale were flood-damaged: three were at 2 Staverton Crescent, in Mangere; one was at 8 Mirage Place, in Beach Haven; and the other was at 43 Wilsher Crescent, in Henderson. The agency added that it had sold two other flood-damaged properties, but it did not identify where those were.
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The three homes at 2 Staverton Crescent have a combined RV of $2.1m and sit on a 1346sqm corner section zoned for apartments and townhouses.
Ray White listing agents Pat Lapalapa and Jared Hards declined to comment on the sale, referring OneRoof to Kāinga Ora, but Ray White Manukau co-owner Tom Rawson said it made sense that the agency was divesting itself of compromised or costly stock.
“I think it is prudent they sell off these properties, rather than increase occupation in risk areas,” he said.
“They could attract interest from developers who are greater risk-takers.
The 1970s house at 8 Mirage Place, in Beach Haven, North Shore, has historic landslide issues. Photo / Supplied
“Every property has value that is determined by buyer demand. While it’s fair to say there will be less demand for properties prone to flooding, for the right price, everything sells.”
The four-bedroom house on Mirage Place in the North Shore’s Beach Haven has an RV of $980,000 and is listed for sale with Ray White agents Josh Lancaster and Allan Clark. The listing on OneRoof highlights “a historic landslip” at the rear of the 1083sqm section requiring remedial work.
“If you’ve felt the property ladder was out of reach, chin up - your time is NOW. Lucky number 8 Mirage is ready to change your story,” the listing said, noting that “this must sell”.
The three-bedroom home on Wilsher Crescent, in Henderson, is listed for sale with Barfoot & Thompson agents Tricia Bell and Tracey Hughes and has an RV of $1.095m.
The agents’ advertising for the property said it was “damaged in the floods and then with human intervention”, with listing photos showing boarded-up windows, graffiti, and holes in the walls.
The property is zoned for apartments and townhouses and has been pitched to developers and renovators. The deadline for offers closed on May 26.
- 2 Staverton Crescent, in Mangere, Auckland, is for sale for $1.45m; and 8 Mirage Place, Beach Haven, is priced at $400,000
