Northern Rivers, Lismore to be offered renovations or buybacks in $800 million plan

28 Oct

Thousands of homeowners in the most flood-prone areas of Lismore and the Northern Rivers will be eligible to raise, repair, retrofit, or even sell their home to the government under a major buyback program worth $800 million.

The joint Commonwealth-NSW program will support around 2000 homeowners in the seven Northern Rivers local government areas of Ballina, Byron, Clarence Valley, Kyogle, Lismore, Richmond Valley and Tweed.

Residents in the most vulnerable areas, where major flooding would pose a catastrophic risk to life, will be given the option to sell back their home to the government.

The buyback scheme will be voluntary, giving homeowners the choice to sell up and move elsewhere without taking a massive financial hit.

Premier Dominic Perrottet first flagged that his government would implement a buyback scheme in August, when releasing the report from Professor Mary O’Kane and former Police Commissioner Mick Fuller’s independent flood inquiry.

State Cabinet signed off on money for the buyback scheme earlier this month and has worked with the Commonwealth for weeks on the final package.

There will be a detailed property assessment process under the scheme. The Daily Telegraph understands land would be valued at pre-flood levels.

For homeowners vulnerable to floods, grants of up to $100,000 will be offered for house raising. Others will be offered grants of up to $50,000 to retrofit homes in areas where flood risk can be reduced by better building standards.

Homeowners will be offered one of the three available measures based on their circumstances.

The NSW Government will provide $100 million to buy land for new development in flood-safe areas, in partnership with the Northern Rivers Reconstruction Corporation.

Prime Minister Anthony Albanese said the fund was a “practical” solution to “protect lives and livelihoods”.

“We know this repeated, relentless flooding can be emotionally and financially draining and we want communities to know we will be there to support them now, and as they recover.”

Mr Perrottet said the money will help residents along their road to recovery while boosting long-term resilience.

“We will work with the Northern Rivers community to ensure repairs, retrofitting and voluntary buybacks are undertaken in a way that will better protects people and their homes from future flood events,” he said.

Offers provided to individual homeowners will be based on extensive analysis of the 2022 floods and expert advice on subsequent disasters.

The buybacks will be for insured and uninsured homes, and any insurance settlement will be deducted from the contract price.

“There is no one-size-fits-all approach when it comes to building back and this program offers multiple measures to help residents stay in the region in homes that can better withstand future floods,” Deputy Premier Paul Toole said.

DOMINIC PERROTTET, NSW PREMIER

In the worst of times, we often see the best of Australia. And Australians are at their best when we work together. That’s exactly the spirit that the Federal and NSW Governments are embracing as we join forces for the flood-stricken communities in the Northern Rivers.

I have seen with our own eyes just how hard communities like Lismore have been hit. They’ve shown amazing courage in the face of adversity, but no one should be expected to get by on courage alone.

And as natural disasters increase in intensity and frequency, no one can afford to keep doing things the same old way. That’s why we’re taking a new approach to disaster response.

The Resilient Homes funding package takes significant steps towards ensuring communities are better prepared for the next time disaster strikes.

Around 2000 home-owners in flood prone areas of the Northern Rivers will be eligible for a voluntary buyback scheme as part of a new $700 million program, jointly funded by the Federal and NSW governments.

It will also provide financial assistance of up to $100,000 for house raising, or up to $50,000 for retrofitting for homeowners in areas where flood risk can be reduced by better building standards.

As Federal Emergency Management Minister Murray Watt has stressed, the program will be designed to support the recovery of the region by ensuring the available measures don’t just deliver short-term solutions.

Unfortunately, we have to confront the truth that there are some places we can’t make safe.

We also have to acknowledge that disaster does not strike equally. The most vulnerable in society are the ones who get hit the hardest. They have the least secure housing, are less likely to be insured, and more likely to live in areas at greater risk.

We need to work across all levels of government and with local communities to make sure we build more resilient communities.

That includes designing homes where the ground floor can be easily hosed out, managing bushland to reduce fire severity, and slowing water flow with increased vegetation in built up areas.

There will be floods again. Together – communities and governments – we can deal with them better. The people of the Northern Rivers deserve nothing less.

ANTHONY ALBANESE, PRIME MINISTER

In the worst of times, we often see the best of Australia. And Australians are at their best when we work together.

That’s exactly the spirit that the Federal and NSW Governments are embracing as we join forces for the flood-stricken communities in the Northern Rivers.