Official release
Kāinga Ora has smashed its savings target, significantly reduced the cost of building social homes, and improved its performance as a landlord, Housing Minister Chris Bishop and Associate Housing Minister Tama Potaka say.
"The latest results in Kainga Ora’s annual report for 2025/26 show the Government's turnaround of the agency is delivering better value for taxpayers and better outcomes for tenants," Mr Bishop says.
"When we came into Government, Kāinga Ora was financially unsustainable. Debt had ballooned from $2.3 billion in 2017/18 to $16.5 billion in 2023/24, build costs were out of control, and the organisation had lost focus on its core responsibilities.
"We commissioned an independent review, refreshed the Board, and implemented a Turnaround Plan in February 2025 to get Kāinga Ora back on track.
"Less than two years on, the results speak for themselves, with the latest report showing:
Associate Housing Minister Tama Potaka says Kāinga Ora is also making significant progress in its core responsibility of being a good landlord.
"Social housing tenants deserve healthy, dry homes, responsive services and safe communities. That's what we've asked Kāinga Ora to deliver, and we're seeing real progress," Mr Potaka says.
"These results show Kāinga Ora is becoming a more responsive, responsible landlord. More homes are occupied, properties are being turned around faster, fewer tenants are falling behind on their rent, and disruptive behaviour is being taken seriously," Mr Potaka says.
"Kāinga Ora is getting back to doing what New Zealanders expect of it: providing quality homes in the right places for people who need them,” Mr Bishop says.
Notes to editor:
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Last checked 2 Nov 2026, 4:32 am IST · Coverage & methodology