The NSW Labor Government say it has exceeded its target of selling 42 flood buyback houses before Christmas, after 60 people attended the last auction in Lismore on Wednesday.
Sale prices range from $7000 to $25,500, they said in a media statement.
‘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’, they said.
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/
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