The Minns Labor Government has exceeded its target of selling 42 flood buyback houses before Christmas after 60 people attended the last auction in Lismore overnight, with sale prices ranging from $7000 to $25,500.
One hundred and thirty buyback properties have now been offered for sale in the Northern Rivers since December last year, capturing nationwide attention. In October a Christmas target of offering 42 houses up for sale was set and then exceeded by three houses at the 11th auction for the year.
PRD Lismore auctioned off 10 homes at the Lismore Workers Sports Club at Goonellabah on Tuesday night, attracting 30 registered bidders, including four phone bidders. All 10 properties sold for a total value of $140,300.
The highlights included:
- 20 Rhodes Street, South Lismore: $25,500
- 30 Newbridge Street, South Lismore: $16,100
- 95 Crown Street, South Lismore: $12,000
- 85 Elliott Street, South Lismore: $7000
- 61 Newbridge Street, South Lismore: $8500
- 51 Newbridge Street, South Lismore: $16,000
- 49 Newbridge Street, South Lismore: $11,000
- 34 Elliott Road, South Lismore: $6200
- 25 Crown Street, South Lismore: $22,500
- 12 Crown Street, South Lismore: $15,500.
Eleven buyback auctions have been held with the first Casino sale last weekend where two houses were sold for $500 and $8605 respectively.
It’s been a year of firsts with the auction program with high interest in the bargains sales, including one house for $1, and the most expensive house going for $200,000. It wasn’t just the prices, making it one of the most accessible housing opportunities in Australia, generating nationwide attention.
All homes earmarked for relocation have been purchased by the NSW Reconstruction Authority through the buyback stream of the $880 million Resilient Homes Program, jointly funded by the NSW and Australian governments.
All house owners will now have until the end of 2026 to relocate their property to flood-free land. Every property is unique, with homeowners expecting relocation costs upwards of $100,000 depending on the property.
The auction program will pause over Christmas and resume in early 2026.
All NSW proceeds from the home sales (after costs) are reinvested into the Resilient Homes Program to support more flood-affected residents.
For more information on upcoming auctions go to https://www.walmurray.com.au/pages/realestate/
ra-auction-houses and https://www.prd.com.au/northernrivers/relocation-homes/
Minister for Recovery Janelle Saffin said:
“I asked the NSW Reconstruction Authority to supercharge these flood buyback auctions as they have proved extremely popular.
“Seeing young families and first-home buyers walk away with keys to a safer future is incredibly uplifting.
“These homes are part of our shared history, and the fact they can now be repurposed and relocated to flood-free land gives our community real hope.
“This program has always been about people, not price and giving these houses a second life and delivering safer housing opportunities for our community.”
NSW Reconstruction Authority A/Head, Adaptation, Mitigation & Reconstruction Kristie Clarke said:
“We’ve had some great stories, including families who have become first-time homeowners thanks to this initiative.
“One hundred and thirty homes have been offered for sale and eventual relocation. This is an amazing outcome, and we will be back with more homes in the New Year.”