A FURTHER 10 buyback homes were offered for sale at an auction in Lismore overnight, with successful bidders walking away with homes ranging from $50 to $125,000.
More than 100 Northern Rivers flood buyback properties have now been offered for sale since December last year in the Northern Rivers, capturing nationwide attention.
The PRD auction of 10 flood buyback homes from North Lismore, East Lismore, central Lismore and South Lismore was held at Lismore Workers Sports Club, with more than 60 first-time homeowners, builders and investors from inside and outside the region taking part.
All properties sold for a total value of $209,970.
The highlights included:
- 11 Simmons Street, North Lismore: $50.
- 25 Hindmarsh Street, central Lismore: $30,000.
- 149 Magellan Street, central Lismore: $125,000.
- 1 Hutley Place, East Lismore: $10,000.
- 311 Keen Street, East Lismore: $32,000.
- 32 Elliott Road, South Lismore: $10,000.
- 162 Union Street, South Lismore: $320.
- 176 Union Street, South Lismore: $500.
- 7 Cromer Street, South Lismore: $100.
- 159 Union Street, South Lismore: $2,000.
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.
There is no reserve price on these houses. Prices have ranged from $1 to $200,000, and with bidding starting at just $1 it makes it one of the most accessible and affordable housing opportunities in the country.
All new homeowners have until 30 November 2026 to relocate their property to flood-free land. Every property is unique, with homeowners understanding and expecting relocation costs upwards of $150,000 depending on the property.
Eight auctions have been held this year since June, with 96 houses sold. Another three auctions will be held before Christmas; 12 homes will be sold in Lismore on December 2, two houses in Casino on December 6, and 10 houses in Lismore on December 9.
The auctions 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/real-estate/ra-auction-houses and https://www.prd.com.au/northernrivers/relocation-homes/
Minister for Recovery Janelle Saffin said:
“Each auction is another step forward in helping flood-affected 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.
“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.”
NSW Reconstruction Authority Northern Rivers Adaptation Executive Director Kristie Clarke said:
“We’ve had some great stories, including families who have become first-time homeowners thanks to this 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.
“Last week we saw one property sell for $1 and a further four properties sold for only $5.”
