AT Australia’s most affordable housing buyback auction, a Murwillumbah home sold for one dollar.<\/p>\n
The flood buyback auction was held last week at the Murwillumbah Services Club.<\/p>\n
The sale set a new record low, beating the previous $347 result.<\/p>\n
All homes sold through the program are house-only relocatable structures, with no land included.<\/p>\n
The top sale on Wardrop Street reached $8,500, with nearby homes selling for $2,500 and $2,100.<\/p>\n
Nine other homes sold for under $900, including four at $5 and one on Tweed Valley Way for $1.<\/p>\n
Young families, builders and out-of-area investors attended Tuesday night’s auction, where 11 homes sold for a combined $14,871.<\/p>\n
One young couple bought their former rental for $200. They had fled the house during the 2022 flood when water entered the second storey and had attended only for sentimental reasons, leaving as first-time homeowners.<\/p>\n
Minister for Recovery Janelle Saffin said the possibility of a $1 house had always been promised.<\/p>\n
“Well, that’s finally happened. It really is the most accessible housing program in the country,” Saffin said.<\/p>\n
“This is fantastic. I love that we are giving an opportunity for families and young people to own a home for the first time and giving these homes a new lease of life off the flood plain.”<\/p>\n
NSW Reconstruction Authority Northern Rivers Adaptation Executive Director Kristie Clarke said the RA wanted to see as many homes as possible repurposed for a safe future.<\/p>\n
“We’re seeing a lot of young families buying these homes, and it’s proving to be a very affordable option.”<\/p>\n
The Resilient Homes Program is the most extensive adaptation program of its kind in Australia.<\/p>\n","protected":false},"excerpt":{"rendered":"
AT Australia’s most affordable housing buyback auction, a Murwillumbah home sold for one dollar. The flood buyback auction was held last week at the Murwillumbah Services Club. The sale set a new record low, beating the previous $347 result. All homes sold through the program are house-only relocatable structures, with no land included. The top […]<\/p>\n