A house in New South Wales, affected by flooding, has been sold for just $1 as part of a state government initiative aimed at relocating homes on the far north coast. This sale is part of an auction where a total of 11 houses were sold, with prices ranging from $1 to $8,500. The auction took place in Murwillumbah on Tuesday night.

Scott Reading, principal of First Nation Real Estate Murwillumbah, noted the excitement in the room during the auction. "It was an excited mob, and there was disbelief that they could pick up such a good property for the prices they were going for," he said. Nine of the 11 homes sold went to local residents, some of whom had previously experienced the floods that damaged the properties. Buyers are responsible for relocating the homes to safer locations.

In a country facing a housing crisis, Reading emphasized the value of these properties. "Most of them were in really good condition; some had even been renovated after the floods, so they are pretty much ready to move into," he explained. He added that only one house required significant work, describing it as a beautiful, iconic Queenslander home.

Jaya Roche and her partner Cory attended the auction out of curiosity and ended up purchasing a house. "We didn't go in with the intention of buying anything, but when they were going for $5 and $1, we were like, why not, let's bid and see what happens — it was a spur of the moment decision," Roche said. She expressed disbelief at their purchase, saying, "It was pretty surreal … like, did we just buy a house?"

The couple is familiar with the house they bought, having previously rented it. They lost everything when it was flooded during the 2022 NSW flood event. After the flood, they moved back in, and Roche discovered she was pregnant with their second child. However, they were soon informed that the house had been sold to the Reconstruction Authority (RA), giving them 90 days to vacate.

Despite the challenges, Roche expressed her affection for the home. "We just love the house, ever since we looked at it when we were looking for a rental. The character, and there's a big, beautiful fireplace — I instantly fell in love with it. It just feels like home for us, even though it was a rental," she said.

Kristie Clarke, executive director of the RA's Northern Rivers Adaptation Division, highlighted the uniqueness of the buyback program. "This has never been done anywhere in Australia and possibly even the world that I am aware of, through a state government buyback program, where homes have been offered to the community with no reserve," she stated.

While a $1 house may seem like a bargain, there are additional costs associated with relocating the home. The RA estimates that relocating a house can cost between $80,000 and $140,000. Clarke advised potential buyers to conduct thorough research, including obtaining quotes and assessing the relocation route and site suitability.

"Often relocation providers will need to cut the house in half, so it might be going on two trucks, which increases the costs," she noted. Other factors to consider include design, approvals, compliance, and site work costs.

Another auction is scheduled for November 17, where 10 more houses will be available in Lismore. Clarke stated, "It's an opportunity for people in the community to purchase a property for as little as $1." Additionally, 24 more homes will be auctioned by the end of the year, with the RA currently assessing over 700 properties for relocation suitability.

Roche reflected on the significance of their purchase, stating, "It feels like a very full-circle moment, the universe's way of putting us back to where we were after everything that happened."