22 December 1998  
Community Trusts To Acquire Housing 
New Zealand Properties  
 
Murray McCully   
Housing   
Housing New Zealand has announced plans for its rental properties in the Wairarapa and 
Southern Hawkes Bay to be managed and owned by a community trust.  
 
Trust House, a partnership of three community trusts, has agreed to buy and manage the 576 
properties owned by Housing New Zealand in the region. Housing New Zealand will work 
with the Trust for a transitional period, after which the company will retain a presence to deal 
with emergency and high needs housing.  
 
Housing New Zealand Minister Murray McCully described the plan as "a win, win, win 
situation.  
 
"The community will win as a result of acquiring a solid property portfolio as a locally 
managed asset, contributing funds to local projects.  
 
"Tenants will win from having their housing needs met by a locally focussed, experienced 
service provider.  
 
"And Housing New Zealand and its owners will win by being increasingly able to focus on 
the Government's priorities in relation to high needs and emergency housing cases.  
 
The Government has for some time been urging Housing New Zealand to reconfigure its 
housing stock to meet the needs of those parts of New Zealand where housing pressures are 
evident. The Wairarapa and Southern Hawkes Bay is one of relatively low demand, with few 
priority cases. The company will continue to deal with those priority cases as they arise.  
 
"The proceeds of the sale, $11.5 million, will be retained by Housing New Zealand for 
reinvestment in areas of high demand.  
 
Beehive.govt.nz 

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