The joint Queensland and Federal Governments’ Resilient Homes Fund has purchased another 300 properties in flood-prone areas of the State.
The initiative, delivered through the Commonwealth-State Disaster Recovery Funding Arrangements, was established in May 2022 following the catastrophic 2021-22 rainfall and flooding events.
To date, 370 offers have been accepted for voluntary buy-backs, out of the 473 offers which have been presented to home-owners.
There have been 238 sale contracts already settled, allowing the impacted residents to move on with their lives without the risk of future flooding.
A total of 491 valuation inspections have been undertaken, so it is expected that the number of offers accepted will grow steadily over the coming months.
While applications for the Voluntary Home Buy-Back Program are closed, impacted homeowners can still apply for the Resilient Retrofit or Home Raising programs until 30 July as part of the Resilient Homes Fund.
Chief Executive of the Queensland Reconstruction Authority, Major General Jake Ellwood said homeowners who had been identified for buy-backs had been notified via email and would be contacted to arrange an independent valuation.
“Following home-owner agreement, the program funds the respective Council to purchase the land, with all homes purchased under the program demolished or removed, and the land re-zoned to an appropriate, non-occupied use such as green space,” Major General Ellwood said.
“This is the first household resilience program of its kind to be offered in Australia and will change the region’s resilience to flooding.”
