26 bidders vie for a piece of history at flood buyback auction

To date, 83 properties in the Northern Rivers have now been offered for sale in the Northern Rivers, capturing nationwide attention.

PRD Real Estate conducted the auction of 12 flood buyback homes from central Lismore, South Lismore and North Lismore.

Several families bought houses, as well as one long term renter buying a home for the very first time. Builders and investors from outside the region also participated in the auction, which attracted an audience of 50 people, including four phone bidders.

The highlights included:

• 157 Magellan Street, central Lismore: $41,500
• 58 Ewing Street, central Lismore: $47,500
• 61 Brewster Street, central Lismore: $54,500
• 171 Magellan Street, central Lismore: $15,500
• 13 Rhodes Street, South Lismore: $32,500
• 23 Rhodes Street, South Lismore: $39,000
• 36 Barrow Lane, North Lismore: $11,500
• 37 Barrow Lane, North Lismore: $16,000
• 118 Terania Street, North Lismore: $10,50
• 80 Terania Street, North Lismore: $14,500
• 71 Bridge Street, North Lismore: $22,000
• 8 Simmons Street, North Lismore: $15,500.

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 Commonwealth Governments.

The Resilient Homes Program is the largest adaptation program of its kind in the country.

So far, more than 1300 flood impacted homeowners have engaged with the buyback program, and more than 926 offers have been made.

There is no reserve price on these houses, meaning bidding can start and end at $1, making it one of the most accessible housing opportunities in Australia.

The Minns Labor Government remains committed to reusing as many flood-affected homes as possible. Additional houses will be released for auction by First National Real Estate at Murwillumbah on November 11 and PRD Real Estate in Lismore on November 17.

All NSW proceeds from the home sales are reinvested into the Resilient Homes Program to support more flood-affected residents.

For details on the homes sold, including photos can be found at: https://www.prd.com.au/northernrivers/relocation-homes/.

Minister for Recovery Janelle Saffin said:

"I asked for the steam rolling of the selling of these houses and that's exactly what we are doing.

"We have set an ambitious target of putting an extra 42 houses up for sale by Christmas and are well on our way.

"It's great to see the continued interest in this program, which is giving so many people a chance at something affordable in the housing market.

"With these tin and timber homes we are delivering the hopes and dreams of a generation to own their own home while ensuring the unique character of this great region lives on."

NSW Reconstruction Authority Executive Director Northern Rivers Adaptation Division Kristie Clarke said:

"The Resilient Homes Program is one of the most ambitious initiatives undertaken after a disaster in Australia.

"Through the buyback process, we're removing homes from the floodplain and creating new opportunities by making some of these available for relocation."