“I’m not sure what that’s got to do with being Prime Minister.”

The home is being marketed as combining a “compelling address and the potential for future growth” while offering “excellent value” for buyers.

“Please disregard the current CV,” the marketing says of the most recent $1.15 million capital valuation, which was done in 2021.

Yesterday’s listing comes after Luxon last month sold another two-bedroom home in the same 1980s Onehunga housing development for $930,000. He also sold his Wellington apartment last month for $975,000 – the sale is not yet settled – and moved into Premier House, the Prime Minister’s official residence.

As a result of both sales, Luxon made a combined $460,000 tax-free profit on the properties, which were last sold in 2015 and 2020, respectively.

Luxon, who along with predecessor Dame Jacinda Ardern ruled out introducing a capital gains tax, faced criticism over the tax-free windfall, and his benefiting from his Government’s changes to the bright-line test.

Because Luxon bought and sold the Wellington apartment within five years of purchase, and he bought it after the introduction of the five-year bright-line test, he would have been required to pay tax under that test at a rate of 39% – equating to a maximum tax of $70,200.

However, on coming into office, Luxon’s Government scrapped both of Labour’s extensions of the bright-line test for taxing investment property sales, shifting it back to two years as of July 1, 2024.

That meant Luxon avoided being caught by the five-year test by just over two months and saved himself up to $70,200. If he had sold the apartment in February, when he declared he would move into Premier House, he would likely have been required to pay the tax.

After last month’s two sales, Luxon now has five mortgage-free properties, comprising two Onehunga rentals, family homes in Remuera and Waiheke, and his Botany electorate office.

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