What was Kāinga Ora’s redevelopment cost per unit in 2024/25 and in each of the previous five years?

Answer

Kāinga Ora – Homes and Communities has provided me with the following redevelopment expenditure per unit for 2024/25 and the previous five years: 2019/20 $439,075 2020/21 $475,740 2021/22 $540,663 2022/23 $594,199 2023/24 $702,299 2024/25 $701,126 Average cost is impacted by factors such as location, type of build (with an increase in the proportion of apartments delivered in the last three years), and other issues such as the preparation land for building. Furthermore, there was a significant COVID-related supply chain impact that resulted in building materials increasing in price. Costs were also impacted by site lock downs and site management in 2020 and 2021.