A number of NSW homes have attracted interest thanks to their dirt cheap price tag of just $5,000 – though, there’s a catch.
There is a ticking clock on the three timber homes listed in the Northern Rivers region, which must be removed or demolished due to upcoming developments to the area.
The cheap Lismore homes have not been damaged, but their new owner will have to relocate them.
A Lismore home priced at $5,000.
According to the listing, some of the properties have had bathroom and kitchen upgrades.
The listing claims that the homes mark a “great opportunity to add a second dwelling to a farm or a vacant block”, subject to council approval.
Low-priced homes that must be moved are not a new phenomenon in Lismore, where flood-damaged properties have sold at auction for extraordinarily low sums.
In the latest round of flood buyback auctions on April 28, homes sold for between $14,000 and $132,000.
Three properties, in South Lismore, East Lismore and Girards Hill sold for under $21,000.
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The old timber structures must be relocated
All homes sold during the auctions were purchased by the NSW Reconstruction Authority under the $880m Resilient Homes Program.
As with the $5,000 listings, successful bidders were required to relocate the dwellings.
Minister for Recovery Janelle Saffin said it was “heartening to see” young families securing these homes at auction.
“This program is a uniquely Northern Rivers solution to housing that is setting a benchmark for the rest of Australia, proving that we can move residents out of harm’s way without losing the heart of our community,” she said.
“By choosing relocation over demolition, we are delivering a sustainable and innovative outcome that preserves our local housing stock and gives these buildings a second life in a safer location.”
The flood homes auctions are not linked to the $5,000 Lismore sales – the listing notes the timber homes “have not been through a flood”.
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144 Dawson St, Girards Hill sold at auction for $21,000
NSW Reconstruction Authority acting executive director adaptation and resilience division Jane Holden said the Lismore auctions for flood damaged homes were part of a commitment to relocate and reuse buyback dwellings wherever possible.
“These homes are part of the community’s shared history, and this program is about giving them a second life,” she said.
“It was encouraging to see bidders come well-prepared, engaging with relocation contractors and local councils in advance, with strong interest from young families and first-home buyers seeking a pathway to a safer future.”
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