Latest news with #ResilientHomesProgram
Daily Telegraph
2 days ago
- Business
- Daily Telegraph
Flood-hit properties set for auction without reserve
Property bidders have the chance to snap up homes for prices that could be as low as $1 at a NSW auction Tuesday night. As part of the State and Commonwealth Government's Resilient Homes Program, nine relocatable flood-affected homes will go under the hammer. There is no reserve price on these houses, meaning bidding could potentially start and end at $1 if this is the only offer placed. The homes are located in Burringbar and South Murwillumbah in the Northern Rivers, a region significantly impacted by flooding in 2022. As part of the $880m buy back scheme within the Resilient Homes Program, the NSW Reconstruction Authority purchased several flood-affected and flood-prone homes from owners who could not claim insurance. The homes – not the land – are then placed under auction, with successful bidders having 12 months to relocate the houses to flood-free land. Real estate agent Scott Reading of First National Murwillumbah said the upcoming auction offerings attracted mixed interest. 'There's been a lot of inquiry with a lot of people are interested,' he said. 'I feel like it will be a pretty big night.' Mr Reading said 'a lot of locals' have been keen to snap up the homes for a bargain. 'But a fair bit of interest has come from out of town as well,' he said. 'So a bit of a mix of both.' Regarding his expectations for the prices of the homes under the hammer, Mr Reading said the auctions would be unpredictable. 'Look, it's really open,' he said. 'I'm not sure where the prices are going to end up.' Mr Reading said 37 Wardrop St and 6077 Tweed Valley Way had attracted the most interest from inquirers so far. 'They're just nice Queenslander homes and I think those are really popular,' he said. Both are spacious three-bedroom, two-bathroom family homes. Tuesday's auction will be the fourth round of NSW Reconstruction Authority (NSWRA) buyback house auctions, following a positive community response to previous sales. In previous auction rounds, homes have sold for as low as $347 and as high as $101,000. Minister for Recovery Janelle Saffin said the program was a 'a creative way of keeping these houses in the community.' 'By auctioning these houses, we are helping save historic homes impacted by the floods and making a small but meaningful contribution to the housing challenges we face in the Northern Rivers,' she said. The auctions will take place at 6pm tonight at Murwillumbah Services Club.
News.com.au
2 days ago
- Business
- News.com.au
Flood-hit properties set for auction without reserve
Property bidders have the chance to snap up homes for prices that could be as low as $1 at a NSW auction Tuesday night. As part of the State and Commonwealth Government's Resilient Homes Program, nine relocatable flood-affected homes will go under the hammer. There is no reserve price on these houses, meaning bidding could potentially start and end at $1 if this is the only offer placed. The homes are located in Burringbar and South Murwillumbah in the Northern Rivers, a region significantly impacted by flooding in 2022. As part of the $880m buy back scheme within the Resilient Homes Program, the NSW Reconstruction Authority purchased several flood-affected and flood-prone homes from owners who could not claim insurance. The homes – not the land – are then placed under auction, with successful bidders having 12 months to relocate the houses to flood-free land. Real estate agent Scott Reading of First National Murwillumbah said the upcoming auction offerings attracted mixed interest. 'There's been a lot of inquiry with a lot of people are interested,' he said. 'I feel like it will be a pretty big night.' Mr Reading said 'a lot of locals' have been keen to snap up the homes for a bargain. 'But a fair bit of interest has come from out of town as well,' he said. 'So a bit of a mix of both.' Regarding his expectations for the prices of the homes under the hammer, Mr Reading said the auctions would be unpredictable. 'Look, it's really open,' he said. 'I'm not sure where the prices are going to end up.' Mr Reading said 37 Wardrop St and​ 6077 Tweed Valley Way had attracted the most interest from inquirers so far. 'They're just nice Queenslander homes and I think those are really popular,' he said. Both are spacious three-bedroom, two-bathroom family homes. Tuesday's auction will be the fourth round of NSW Reconstruction Authority (NSWRA) buyback house auctions, following a positive community response to previous sales. In previous auction rounds, homes have sold for as low as $347 and as high as $101,000. Minister for Recovery Janelle Saffin said the program was a 'a creative way of keeping these houses in the community.' 'By auctioning these houses, we are helping save historic homes impacted by the floods and making a small but meaningful contribution to the housing challenges we face in the Northern Rivers,' she said. The auctions will take place at 6pm tonight at Murwillumbah Services Club.
7NEWS
24-06-2025
- Business
- 7NEWS
Want a character country house for a few thousand dollars? Sign up to this auction
Looking for the ultimate fixer-upper bargain? Flood-affected houses in the NSW town of Lismore, near Byron Bay, are being sold by the government for relocation, and they're going to auction with no reserve. The release is part of a rolling buyback scheme to relocate and reuse flood-affected homes purchased through the Resilient Homes Program, which aims to remove unsafe homes from the floodplain and help create more affordable housing in the region. "There is no reserve price on any of these relocatable homes," said the NSW Relocation Authority website. "That means potentially anyone could purchase a buyback home for one dollar if there are no other bidders." Buyers also need to be aware that what they are buying is the house only, with the land not included. They also need to be prepared to come to the auction, which is being held at Lismore Heights Sports Club with a deposit of 50 per cent of the purchase price up to $1000, payable on the night on July 8. Nearly 20 houses have already been sold at auction the past week via PRD Northern Rivers, with a further 10 homes set for auction on July 8 through First National Wal Murray & Co. At the recent auctions, the cheapest buy reported was a home in Kyogle that sold for a mere $347, along with two in Lismore for $2,300 and $2,500. The most expensive sale went to a South Lismore weatherboard property that had been renovated since the 2022 floods and closed for $101,000. That property was complete with a brand-new kitchen with shaker-style cabinetry, as well as a new bathroom. The upcoming public auction on July 8 will offer 10 houses in a similar weatherboard style, such as 12 and 16 Simmons Street, North Lismore. Both timber homes have pitched rooflines, three bedrooms, decorative 10-foot ceilings, polished timber floors, ornate timber features, and stained-glass windows. First National Wal Murray & Co agent Cory Byrne has seen most of the relocatable homes sell between $6,000 and $100,000, and said it's a unique opportunity to grab a character house. "They're nice good for what they are. If people have got the blocks of land to move them on to, absolutely, it's a good opportunity." A range of 30 homes in total will have been on offer in the buyback program, from charming old timber homes to those needing more work to bring them back to their former glory. The houses have varying states of damage, which will obviously affect interest and price, but the program ensures that the beautiful character and heritage of these properties is preserved. Many homes feature front verandas, high ceilings, and traditional features like picture rails, French doors and ornate ceilings. "While we need to remove these homes from the floodplain and move people out of harm's way, we don't want the region to lose its character along the way," Parliamentary Secretary for Disaster Recovery Janelle Saffin said. "Many of these homes are made from timbers that are rare and very valuable. "To have them picked up, moved to a new location, spruced up and have a new family move in is a fantastic result for the whole community." While these prices will obviously attract first-home buyers, Mr Byrne said the program has been popular among existing landholders in the wider region. "We've been seeing interest mostly from landholders around the area, people that might have farms or a vacant block, who can put a second dwelling on [their land] without trying to build new," Mr Byrne said. For those worried about unforeseen financial surprises when fixing up the houses, Mr Byrne said that buyers will be given a full report of any property they're considering. What you are buying "All the homes come with a HAZMAT report that the RA has done, so anyone interested can contact us and get a copy of each of those for all the houses. "The report tells you if there's any asbestos, mould or anything else - it's all disclosed." Buyers should be aware there are extra fees to consider in the total purchase price. The RA estimates the average cost of relocation to sit between $80,000 and $140,000. However, buyers should also factor in design, approvals, compliance and site works. If successful, you'll have up to 12 months to relocate the home from the RA's land, and properties can only be moved to sites that are outside of the Priority 1, 2 and 3 zones according to RA Flood Prioritisation Maps. But if you're game to take on the challenge, this could be a rare opportunity to secure a character-filled home rich in stories and heritage for an incredibly low price. Three of the best Other finds from the 10 houses that are for auction on July 8 include the house at 177 Magellan Street, Lismore, which features a charming front verandah, high ceilings and tongue and groove internal walls. This three- bedroom house, currently located at 120 Laurel Avenue, Lismore features high decorated celings throughout, timber windows and french doors. A wide back verandah and polished timber floors throughout make this house situated currently at 25 Simmons Street, North Lismore a good buy.
