Fifty-dollar home sells at Lismore buyback auction

ANOTHER 10 buyback homes were sold in Lismore last week, with new homeowners purchasing the relocatable houses from as low as $50 to as high as $125,000.

More than 60 first-time homeowners, builders and investors from the region and other areas participated in the sale.

All properties sold for a total of $209,970, with the Simmons Street house in North Lismore being the bargain of the night for $50. South Lismore homes in Union and Cromer Streets sold for between $100 and $500.

Potential homeowners bid with the understanding that relocation costs can exceed $150,000, depending on the property.

NSW Reconstruction Authority Northern Rivers adaptation executive director Kristie Clarke said some families had become first-time homeowners under the initiative.

“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,” Clarke said.

Minister for Recovery Janelle Saffin said each auction was another step forward in helping communities recover and rebuild.

“The buyback auctions have never been about the sale price. We just wanted to get these homes repurposed for a safe future and have steamrolled their sale,” Saffin said.

“It’s heartening to see a lot of young families getting a foot into the housing market and these homes a second lease of life.”

The NSW Reconstruction Authority purchased the relocatable properties through the buyback stream of the NSW and Federal Governments $880 million Resilient Homes Program.

More than 100 Northern Rivers flood buyback properties have now been offered for sale since December last year, capturing nationwide attention.

Buyback auctions have no reserve, with bidding starting at $1, garnering national attention with one of the most accessible and affordable housing opportunities in the country.

Ninety-six houses have sold in eight auctions in 2025, and another two auctions will be held in Lismore on December 2 and 9.

The latest successful bidders have until November 30, 2026, to relocate their houses to flood-free land.

For information on upcoming auctions, visit walmurray.com.au/pages/real-estate/ra-auction-houses and prd.com.au/northernrivers/relocation-homes