26 September 2023

First buyback offers made on flooded homes

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The first of the State’s home buyback offers are now underway with homeowners in the flood-ravaged Northern Rivers region in line to receive support.

Announced by the Minister for Regional NSW, Paul Toole, the first of the buyback offers are to be made to residential homeowners located in the highest-risk flood zones.

Mr Toole said the Northern Rivers Reconstruction Corporation (NRRC) aimed to make offers to the first 250 residents by the end of April and would “ramp up from there”.

“The first buyback offers mark an important milestone for the recovery of the Northern Rivers,” Mr Toole said.

“This can give the community the confidence that we are moving forward with our promised support and confirms we will leave no one behind on the recovery ahead,” he said.

“This program allows flood-affected locals to weigh up their options on their own terms and in their own time – and puts support around them through that process.”

Chief Executive of NRRC, David Witherdin said all residents registered with the Resilient Homes Program would be contacted about their eligibility to receive a buyback, or funding support for house raising or home retrofitting by mid-2023.

“I know for many people, receiving a buyback offer will be life changing and the next step on their recovery journey,” Mr Witherdin said.

“I want to assure everyone there is no pressure to decide and people can take as long or as little time as they need to consider their offer and their options,” he said.

“I cannot overstate the scale, complexity and importance of the Resilient Homes Program and want everyone to know we are committed to working with and listening to the community, ensuring homeowners have the information they need and providing access to independent support and advisory services.”

Mr Witherdin said the Resilient Homes Program would also provide financial assistance of up to $100,000 for house raising or up to $50,000 for retrofitting to homeowners in areas where flood risk could be reduced by better building standards.

He said work on house raising and retrofitting was expected to commence from mid-2023 onwards.

Further information on the Resilient Homes Program can be accessed at this PS News link.

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