PHOTO: JASON DORDAY/STUFF Kāinga Ora confirmed it had bought all the units in the development.
A first-home buyer has been left disappointed after Housing New Zealand, now called Kāinga Ora, bought out the apartment development she was purchasing a unit in.
The woman, who did not want to be identified, signed an agreement to buy a one-bedroom apartment in the Onehunga Bay Terrace Development, being built by Avanda.
She paid a 10 per cent deposit, of $54,200, at the start of August last year.
But in November she was told by real estate agents selling the development that the developer had entered into a conditional agreement with Kāinga Ora for it to buy the unsold units in the development.
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