Updates

First property buy back offers accepted by flood-affected SEQ homeowners

Queensland Government media release

Twenty-three flood-impacted homeowners in Goodna and Brisbane are the first Queenslanders to accept a voluntary home buy back offer as part of the $741 million Resilient Homes Fund.

The resilience program is jointly funded through Commonwealth-State Disaster Recovery Funding Arrangements (DRFA) and is the largest of its kind ever to be delivered in Australia.

These homes and others across Ipswich and Brisbane were prioritised for voluntary buy back following the devastating Queensland floods experienced 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.

Minister for Emergency Management Senator the Hon Murray Watt said the investment will be life-changing and marks the beginning of a brighter future out of the flood zone.

“The flooding we saw last storm season was catastrophic, and its unprecedented nature required an extraordinary response from all levels of government,” Minister 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.

“There is $350 million available for the voluntary purchase of flood-impacted homes as part of the $741 million Resilient Homes Fund, and we expect this to secure the purchase of around 500 homes.

“We know this is an incredibly hard decision for many people, and the Queensland Government is working closely with every homeowner through each stage of the process.”

The $741 million Resilient Homes Fund is open to Queensland homeowners affected by the 2022 floods, with three options available: retrofitting, house raising or voluntary home buy back.

The Queensland Reconstruction Authority is managing the Voluntary Home Buy Back Program, with Queensland’s Department of Energy and Public Works leading the house raising and retrofitting components of the Resilient Homes Fund.

Deputy Premier and Minister responsible for the Queensland Reconstruction 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.

“Having valuations now being accepted is a major step forward for the Resilient Homes Fund and our Voluntary Home Buy Back Program,” Mr Miles said.

“Our government is working with the Commonwealth, local governments, insurers and the building industry to rollout this program as quickly as possible, with these first properties to be settled before Christmas.

“More than 95 valuations have been undertaken, and we expect to have all properties selected for valuation by the end of the year.

“With the Resilient Homes Fund we want to reduce the impact future disasters have on our communities, from property damage to public safety.

“Once a property is bought back, the local council manages removal of the home and future use of the land,” he said.

“We appreciate the important work being undertaken by local governments, including Brisbane and Ipswich City Councils in progressing the buy back program for their communities.

“Advanced funds have already been provided to Brisbane and Ipswich councils to carry out this work, with funds available to other councils when required.

“We continue to encourage eligible Queensland homeowners impacted by the 2022 floods to register for the $741 million Resilient Homes Fund.”

As at 30 September, there have been 4973 registrations of interest in the Resilient Homes Fund, including 529 people registering a preference for the Voluntary Home Buy Back Program, 1387 for house-raising, and 1904 for resilient retrofitting.

For more information about the Resilient Homes Fund visit qld.gov.au/resilienthomes