Labour Say Housing NZ Have Cost Taxpayers Millions


Hundreds of state houses have been sold substantially below Government Valuation, promoting warnings that local values could be dragged down too.

Phil Twyford, Labour housing spokesman has accused Housing New Zealand of selling the houses far below the governemnt valuations, leaving the public coffers short on over 13 million dollars.

Figures compiled by Labour showed that 443 state houses were sold in 2014, at an average of 13.3 per cent below the Government Valuation.

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