MORE than 50 bidders packed out the auction of nine flood-affected homes at the Murwillumbah Services Club, with the properties selling for a combined total of $712,000.
54 flood-affected properties in the Northern Rivers have now been sold, capturing nationwide attention.
The First National Real Estate conducted auction, of flood buyback homes from Burringbar and South Murwillumbah, was a night of highlights:
- The highest sale property (37 Wardrop Street) had seven bidders and went for $200,000 (bidding started at $10,000, our highest opening bid so far).
- 6077 Tweed Valley Way, Burringbar: $155,000.
- 319 Tweed Valley Way, South Murwillumbah: $80,000.
- 6066 Tweed Valley Way, Burringbar: $130,000.
- 6060 Tweed Valley Way, Burringbar: $20,000.
- 6068 Tweed Valley Way, Burringbar: $92,000.
- 6069 Tweed Valley Way, Burringbar: $21,000.
- 6058 Tweed Valley Way, Burringbar: $10,000.
- 3 Hunter Street, Burringbar: $4000.
Previously, the highest priced house sold was $101,000 and three properties topped this figure on Tuesday night.
All homes earmarked for relocation have been purchased by the NSW Reconstruction Authority (RA) 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.
The RA has settled on 699 flood buyback properties across the Northern Rivers, and, as a result, hundreds of the houses are being gifted or offered up for auction and relocation.
Homes that are filled with hazardous material or unsuitable for relocation will be demolished.
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.
Jackie and Luke Edwards have been among the successful bidders. The honey processers bought a hillside farm, east of Lismore, nearly three years ago.
They wanted to build a house on their farm, but increasing building costs stopped them.
As a solution, they decided that one of the flood buyback homes could provide a cost-effective option. At the most recent Lismore auctions they successfully bid $35,000 for a 105-year-old cottage, near the Lismore CBD, opposite Crozier Oval.
“I am so in love with this house already,” Jackie says. “I’ve got in touch with previous owners to do a book on the history of the house.
“We were looking at around $400,000 to be able to build a house. This is an awesome option for us.
“We are giving this house a second lease on life, and I hope more people consider it as an option.”
The RA remains committed to reusing as many flood-affected homes as possible and is planning further houses will be auctioned by Wal Murray and Co in September with another auction run by PRD Northern Rivers in October.
Minister for Recovery Janelle Saffin said:
“We are giving people from all walks of life a chance at a new start inside safe and dry weatherboard houses with corrugated iron roofs keeping the rain out overhead.
“These homes speak to the history of the Northern Rivers, with old hardwood timbers, stained glass windows and verandahs.
“The demand from the public is there, and we want to make as many homes as possible are available, so people can relocate them to a safer area.
“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.”
Photo: NSW Minister for Recovery and Lismore MP Janelle Saffin congratulated successful auction bidders Jackie and Luke Edwards when they were interviewed by the Sunrise program early Tuesday morning.
