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NSW sold 11 flood-damaged homes for as little as $1 to reduce risk and boost affordable housing.
The NSW Reconstruction Authority sold 11 flood-damaged homes in the Northern Rivers region for as little as $1, with prices up to $8,500, in a buyback program aimed at reducing future flood risk.
The auction, held on November 11, 2025, in Murwillumbah, offered homes with no reserve prices, requiring buyers to relocate them to safer areas by November 30, 2026.
Nine of the 11 buyers were local residents, including a couple who purchased their former rental for $200.
The program, part of a $880 million initiative, has held seven auctions since June, with more planned before Christmas.
Officials say it provides rare affordable housing opportunities amid Australia’s housing crisis.
Nueva Gales del Sur vendió 11 casas dañadas por las inundaciones por tan solo $ 1 para reducir el riesgo e impulsar la vivienda asequible.