The State Government has exceeded its pre-Christmas goal of selling 42 flood buyback homes, with 60 people attending the latest auction in Lismore overnight and sale prices ranging from $7,000 to $25,500.
A total of 130 buyback properties have now been offered for sale across the Northern Rivers since December last year, drawing national attention for the unprecedented program aimed at repurposing flood-affected homes.
The original Christmas target, set in October, was surpassed at the 11th and final auction of the year, with 45 homes sold by year’s end.
Ten properties went under the hammer on Tuesday night at the Lismore Workers Sports Club in Goonellabah, hosted by PRD Lismore. The event drew 30 registered bidders, including four participating by phone. All homes sold, bringing in a combined total of $140,300.
Among the highlights:
- 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: $7,000
- 61 Newbridge Street, South Lismore: $8,500
- 51 Newbridge Street, South Lismore: $16,000
- 49 Newbridge Street, South Lismore: $11,000
- 34 Elliott Road, South Lismore: $6,200
- 25 Crown Street, South Lismore: $22,500
- 12 Crown Street, South Lismore: $15,500
Tuesday’s sales followed the first Casino auction held last weekend, where two properties sold for $500 and $8,605 respectively.
The NSW Reconstruction Authority, which purchased the homes through the buyback stream of the $880 million Resilient Homes Program, has mandated that all houses be relocated to flood-free land by the end of 2026. While sale prices remain low, relocation costs are expected to exceed $100,000 in many cases, depending on the property.
Minister for Recovery Janelle Saffin said the auction program had struck a chord with the community.
“I asked the NSW Reconstruction Authority to supercharge these flood buyback auctions as they have proved extremely popular,” Saffin said.
“Seeing young families and first-home buyers walk away with keys to a safer future is incredibly uplifting.
“These homes are part of our shared history, and the fact they can now be repurposed and relocated to flood-free land gives our community real hope.
“This program has always been about people, not price and giving these houses a second life and delivering safer housing opportunities for our community.”
To date, 11 auctions have been held, including one where a house sold for just $1—while the most expensive sale reached $200,000. The low entry price point has made the initiative one of the most accessible housing opportunities in the country.
NSW Reconstruction Authority Acting Head of Adaptation, Mitigation and Reconstruction Kristie Clarke said the auctions had delivered significant social outcomes.
“We’ve had some great stories, including families who have become first-time homeowners thanks to this initiative,” Clarke said.
“One hundred and thirty homes have been offered for sale and eventual relocation. This is an amazing outcome, and we will be back with more homes in the New Year.”
All proceeds from the sales (after costs) are reinvested into the Resilient Homes Program to support other flood-affected residents.
The auction program will now pause over the Christmas period and is scheduled to resume in early 2026.
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