A record crowd of nearly 100 people attended the ninth flood buyback house auction in Lismore overnight, with successful bidders walking away with homes ranging from $400 to $79,000.
Up to 118 buyback properties have now been offered for sale since December last year, capturing nationwide attention.
The Wal Murray & Co First National Real Estate auction of 12 homes at Lismore Heights Bowling Club, attracted 45 registered bidders, including eight phone bidders.
The buyers were a mix of trades people, young families and business owners, some with land already lined up.
All properties sold for a total value of $250,900.
The highlights included:
- 9 First Avenue, East Lismore: $22,500.
- 9 Pine Street, North Lismore: $16,100.
- 17 Pine Street, North Lismore: $4600.
- 21 Pine Street, North Lismore: $10,300.
- 19 Simmons Street, North Lismore: $79,000.
- 35 Terania Street, North Lismore: $25,000.
- 112 Terania Street, North Lismore: $6000.
- 39 Barrow Lane, North Lismore: $1000.
- 314 Molesworth Street, central Lismore: $400.
- 315 Keen Street, East Lismore: $35,000.
- 241 Molesworth Street, central Lismore: $41,000
- 18 Tweed Street, North Lismore: $10,000.
There is no reserve price on these houses. Prices have ranged from $1 to $200,000, meaning bidding can start and end at $1, making it one of the most accessible housing opportunities in Australia.
All house owners will now have 12 months 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.
Nine auctions have been held this year since June and another two auctions will be held before Christmas; two houses in Casino on December 6, and 10 houses in Lismore on December 9.
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.
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:
"The record crowd attending the auction on Tuesday night shows that this program is capturing the imagination of Northern Rivers residents.
"The sight of so many young families and first-home buyers making a successful bid is heartening, and a great thing for our community.
"It's encouraging to see strong interest from buyers who understand the value of giving these homes a second life.
"The buyback auctions have never been about the sale price for the Reconstruction Authority. We just wanted to get these homes repurposed for a safe future.
NSW Reconstruction Authority A/Head, Adaptation, Mitigation & Reconstruction Kristie Clarke said:
"We've had some great stories, including families who have become first-time homeowners thanks to this initiative.
"Up to 118 homes have been offered for sale and eventual relocation. This is an amazing outcome and we still have 12 more homes to be auctioned before Christmas."
