The Queensland Reconstruction Authority has announced that the first voluntary buy-backs involving residents in flood-affected areas have been completed.
The 23 homeowners are in Goodna and Brisbane, receiving money from the $741 million Resilient Homes Fund.
The program is jointly funded through the Commonwealth-State Disaster Recovery Funding Arrangements and is the largest of its kind ever to be delivered in Australia.
The Authority said these homes and others across Ipswich and Brisbane were prioritised for voluntary buy-backs following the Queensland floods earlier this year.
“A total of 40 buy-back offers have now been presented to eligible Ipswich and Brisbane residents, with 213 properties throughout eight Local Government areas currently identified for buy-back,” the Authority said.
Federal Minister for Emergency Management, Murray Watt said the investment would be life-changing.
“The flooding we saw last storm season was catastrophic, and its unprecedented nature required an extraordinary response from all levels of Government,” Senator Watt said.
“There are now 213 properties identified for buy-back in Brisbane, Ipswich, Logan, Lockyer Valley, Moreton Bay, Gympie, Fraser Coast and Sunshine Coast, with offers starting to be accepted.”
He said there was $350 million available for the voluntary purchase of flood-impacted homes as part of the Resilient Homes Fund, and he expected this to secure the purchase of around 500 homes.
The Queensland Reconstruction Authority is managing the program, with the State’s Department of Energy and Public Works leading the house raising and retrofitting components of the Resilient Homes Fund.
Minister in charge of the Authority, Steven Miles said homeowners were offered two valuations — one pre-flood and one post-flood — and were able to accept the highest of those two valuations to ensure they received a fair price for their home.
“More than 95 valuations have been undertaken, and we expect to have all properties selected for valuation by the end of the year,” Dr Miles said.
“Once a property is bought back, the Local Council manages removal of the home and future use of the land.”
More information about the Resilient Homes Fund can be accessed at this PS News link.
