More than 130 flood-impacted homeowners accept property buy-back offers

More than 130 flood-impacted homeowners have now accepted a voluntary home buy-back as part of the $741 million Resilient Homes Fund.

The program, a jointly funded initiative delivered through Commonwealth-State Disaster Recovery Funding Arrangements (DRFA), was established following the catastrophic 2021-22 rainfall and flooding events.

There have been more than 180 offers presented to homeowners, with 131 offers accepted across Brisbane, Ipswich, Logan, Sunshine Coast, Fraser Coast, Gympie, Moreton Bay and Lockyer Valley.

Federal Minister for Emergency Management, Murray Watt said the state and federal government were working together to make Queensland more resilient. 

“For those whose homes were the most severely damaged in last years’ flood event and are at greatest risk of future flooding, the voluntary home buy-back program is allowing them to move on with their lives, out of the flood zone,” Minister Watt said.

“The state and federal governments are committed to working together to get the best results for Queenslanders.

“Work is also continuing with many homeowners who have expressed interest in the other program options of the Resilient Homes Fund, to either raise or retrofit their homes to make them as flood resilient as possible.”

“The Albanese Government is committed to ensuring communities are better prepared for and recover quicker from disasters.”

Acting Premier Steven Miles said the acceptance of over 130 voluntary home buy-backs was a great outcome for Queensland homeowners.

“Queenslanders are no strangers to natural disasters. While we can’t stop natural disasters from coming, we can ensure we’re more prepared when they do,” the Acting Premier said. 

“This is a significant milestone and very welcome news for the homeowners who were impacted by devastating floods last year. 

“For most of these homeowners, it’s been less than a year since their home was inundated and devastated by flood waters. 

“The sale of the flood-affected properties will hopefully signal a brighter 2023 for homeowners and their families.” 

Valuation inspections are continuing across 12 local government areas, including Brisbane, Ipswich, Logan, Sunshine Coast, Fraser Coast, Gympie, Moreton Bay, Lockyer Valley, Gold Coast, Noosa, Goondiwindi and Somerset.

More than 5550 homeowners have now registered for the fund, while over 4100 home assessments have been completed.

The $741 million Resilient Homes Fund remains open for Queensland homeowners affected by the floods of 2022.

Three options are available to applicants: retrofitting to a more resilient standard, house raising, or in severe cases, 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.

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

Media contacts: Minister Watt: Tali Eley 0499 770 772 | Acting Premier: Amy Hunter 0423 651 484