NSW homes could be available for as little as $1 next month as a string of flood-damaged homes go to auction.
Ten homes in Lismore in the Northern Rivers region have been put forward for the latest round of the NSW Government’s flood purchase auctions, a program that began after the 2022 floods in the area.
So far, 130 flood-affected properties have been put up for sale by the state government, to be shifted to flood-free land by the new owner.
Lismore homes are auctioned without reserve, meaning homes can change hands for as little as $1.
15 Second Ave, East Lismore is up for auction. Photo: Wal Murray & Co First National Real Estate
4 Crown Ln, South Lismore will go under the hammer. Photo: Wal Murray & Co First National Real Estate
So far, the state government claims that most buyers are from locals, with home sales prices ranging from $1 to $200,000.
In August last year, a buyer purchased the property at Hunter St, Burringbar 3 for just $4,000.
First National Real Estate Murwillumbah broker Scott Reading, who oversaw that round of auctions, said there were more than 50 registered bidders that day.
The 10 new buyback homes on offer are located in the south, east and center of Lismore.
A further 10 properties in Murwillumbah, Bray Park and Burringbar will be auctioned later in March.
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For as little as $1, one of these homes could be secured at auction. Image: iStock
In addition to the requirement to relocate the property, this year’s program has introduced the need for successful bidders to have a destination location ready at the time of purchase.
In addition, all homes must be moved by the end of 2026.
Recovery Minister Janelle Saffin said the auctions had worked to save the “tin and timber soul” of the Northern Rivers.
“These auctions give local families – especially first-time families – a rare, affordable opportunity for homeownership while ensuring the unique character of our region is preserved for the future,” she said.
“It’s about taking our history to the next level and giving these beautiful homes a second life in a safer place.”
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Floods hit the Lismore area in 2022, damaging these homes and many more. Photo: Darren Leigh Roberts
Kristie Clarke, executive director of the NSW Reconstruction Authority Northern Rivers adjustment division, said the buyback process removed homes from the floodplain and created new opportunities for local families by making some of them available for relocation.
The homes will be auctioned at the Lismore Workers Sports Club in Goonellabah on Tuesday, March 3, 2026 from 5:30 p.m.
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