More buyback homes hit the market

TEN flood-affected homes in Lismore have gone under the hammer as part of the New South Wales Government’s latest property auction through the Resilient Homes Program, with another 12 homes to be offered next month.

Since the $880 million program began, 70 homes have been sold for relocation to flood-free land, with bidding starting at $1 and no reserve price set.

Successful bidders have 12 months to move the homes to safer sites. Most properties so far have sold for between $347 and $200,000.

NSW Reconstruction Authority CEO Mal Lanyon said the program aimed to reduce future flood risk while reusing existing homes.

“These auctions are helping to give homes a second life while contributing to a safer, stronger and more resilient Northern Rivers,” he said.

Around 1600 homeowners in the Northern Rivers may be eligible to raise, retrofit or have their homes voluntarily bought back under the scheme.

Minister for Recovery Janelle Saffin said the popularity of the auctions showed clear demand from the community.

“We want to make as many homes as possible available so that people can relocate them to a safer area,” she said.

“For some people, this is the ultimate renovation project. For others, it’s the ultimate reset: a fresh start for the house and a fresh start for the person who takes it on.

“This is about making the most of existing housing infrastructure – and it helps preserve the unique character of our region while helping people move to safer places.”

The next auction of 12 buyback homes will be held on October 7. For information, visit walmurray.com.au/pages/real-estate/ra-auction-houses.