NSW homes could be available for as little as $1 next month as a series 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 buyback auctions, a program which began following flooding in the area in 2022.
So far, 130 flood-affected properties have been offered for sale by the state government, which must be relocated to flood-free land by the new owner.
The Lismore homes are auctioned with no reserve, meaning homes can change hands for as little as $1.
15 Second Ave, East Lismore will go to auction. Picture: Wal Murray & Co First National Real Estate
4 Crown Ln, South Lismore will go under the hammer. Picture: Wal Murray & Co First National Real Estate
So far, the state government claims most buyers have been locals, with house sale prices ranging from $1 to $200,000.
In August last year, one buyer scored the property at 3 Hunter St, Burringbar for just $4,000.
First National Real Estate Murwillumbah real estate agent Scott Reading, who oversaw that round of auctions, said there were over 50 registered bidders on the day.
The 10 new buyback properties on offer are located in south, east and central Lismore.
A further 10 properties in Murwillumbah, Bray Park and Burringbar will be auctioned later in March.
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As little as $1 could secure one of these homes at auction. Picture: iStock
As well as the requirement to relocate the property, this year’s program has introduced the need for successful bidders to have a destination site ready at the time of purchase.
Additionally, all houses are required to be moved by the end of 2026.
Minister for Recovery Janelle Saffin said the auctions worked to save the “tin and timber soul” of the Northern Rivers.
“These auctions give local families — especially those starting out — a rare, affordable shot at home ownership while ensuring our region’s unique character is preserved for the future,” she said.
“It’s about moving our history to higher ground and giving these beautiful homes a second life in a safer place.”
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Flooding struck the Lismore area in 2022, leaving these homes and many more damaged. Picture: Darren Leigh Roberts
NSW Reconstruction Authority Northern Rivers adaptation division executive director Kristie Clarke said the buyback process was removing homes from the floodplain and creating new opportunities for local families by making some of these available for relocation.
The homes will go to auction at the Lismore Workers Sports Club in Goonellabah from 5:30pm on Tuesday, 3 March 2026.
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