Twenty-four bidders vie for flood buyback houses at auction

Eighty-three properties have now been offered for sale in the Northern Rivers, capturing nationwide attention.

Wal Murray & Co conducted the auction of flood buyback homes from central Lismore, South Lismore, North Lismore and Girards Hill.

A number of young families bought houses, builders and investors from outside the region participated in the auction, which an audience of more 50 people. Honey processers Jackie and Luke Edwards were so excited about the opportunity that they decided to buy a second flood buyback house for their farm.

The highlights included:

• 8 Cathcart Street, Lismore: $44,000.
• 29 Cathcart Street, Girards Hill: $46,000.
• 106 Laurel Avenue, Lismore: $11,000.
• 108 Laurel Avenue, Lismore: $36,000.
• 316 Molesworth Street, Lismore: $14,000.
• 161 Magellan Street, Lismore: $48,000.
• 31 Orion Street, Lismore: $60,000.
• 49 Union Street, South Lismore: $46,000.
• 17 Frank Street, South Lismore: $50,000.
• 12 Hallam Street, North Lismore: $6000.

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.

Wal Murray & Co salesperson Ben Conte said the 24 registered bidders showed that there is strong ongoing interest in the auction program.

The Minns Labor Government remains committed to reusing as many flood-affected homes as possible and further houses will be auctioned by PRD Northern Rivers on October 7.

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

More information on the Resilient Homes Program can be found at https://www.nsw.gov.au/departments-and-agencies/nsw-reconstruction-authority/our-work/resilient-homes-program

Minister for Recovery Janelle Saffin said:

"It's great to see the continued interest in giving these flood-impacted homes in the Northern Rivers a new lease of life.

"There is no other place in Australia where you can get this kind of housing opportunity.

"It is a chance to be a part of preserving the unique character of this great region and helping to create a safer and more resilient community.

"There are more opportunities to come, as soon as next month, as we want to see as many of these houses as possible become new homes for our community."