Bill Ralston has launched his campaign to become the new councillor for Waitemata.

Former journalist Bill Ralston says he would push for selling a 49 per cent share of Auckland's port company if elected to the city's council.

Ralston officially launched his campaign on Tuesday to become the next councillor for the central ward of Waitemata, a seat currently held by veteran local body politician Mike Lee.

Selling a stake in Ports of Auckland (POAL) would net the council $1 billion in badly needed profit, Ralston said.

It could be done by spitting POAL into two parts - the land, which would remain 100 per cent owned by Aucklanders, and the operating company of the port.

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"That can become a mixed ownership model with 49 per cent owned by shareholders," he said.

"There is an ideological majority on that council that say, 'you can't sell assets'. They're trapped in their own closed minds by their old redundant ideology."

Two independent reports commissioned by the council last year recommended a partial privatisation of the port.

There was a strong political centre-right showing at Ralston's launch function in Ponsonby on Tuesday night, with National MP for Central Auckland Nikki Kaye, former National Party president Michelle Boag and mayoral candidate Victoria Crone attending.

Other well-known names there in support included film director Lee Tamahori and hairdressing chain founder Rodney Wayne.

Auckland Council has many billions of dollars worth of assets but refuses to contemplate even partially selling anything, Ralston said.

"We need to keep an open mind as to how we fund our infrastructure needs, not just borrow more and tax the ratepayer," he said.

"The current councillor for Waitemata poured fire and brimstone on the mayor and council over (last year's) 10 per cent rates increase, and then promptly voted for it.

"Tricky, cynical footwork that I hope the voters of Waitemata and Gulf will remember," he said.

"This council believes it has an inexhaustible source of revenue - your wallets. It's wrong and it must stop now."

Ralston served on the Northcote Borough Council in the 1970s.

The local body elections are in early October.