Queensland flood zone buy-back program passes milestone

The Queensland Government has settled more than 100 sale contracts under a $741 million program that allows flood-hit home owners to sell their properties for pre-disaster values and move to safer ground.

To date, 407 offers have been presented to homeowners, 260 have been accepted and 103 have been finalised, the state government said in a statement today.

“A total of 479 valuation inspections have been undertaken so we expect the number of offers accepted for buy-back to grow steadily over the coming weeks,” Deputy Premier and Minister responsible for the Queensland Reconstruction Authority Steven Miles said.

“We will continue to prioritise those most severely impacted by the flooding of 2021-22, as well as vulnerable applicants who are at greatest risk of future flooding.”

Homes bought under the program are demolished and the land re-zoned to an appropriate, non-occupied use such as green space, Mr Miles says.

Heavy machinery and specialist crews have begun demolishing homes in Goodna, a suburb on the edge of Ipswich, with demolition complete on six properties.

The $741 million Resilient Homes Fund was established last May after South East Queensland floods caused damage to almost 7000 homes in one of the state’s most devastating disasters. The program is provided through Commonwealth-State Disaster Recovery Funding Arrangements.

More than 5900 homeowners have registered for the fund, which offers three program options: Resilient Retrofit, Home Raising or Voluntary Home Buy-Back.

“I’m very pleased with the progress of the Resilient Homes Fund, and will continue to work hard to ensure more people are protected,” Federal Emergency Management Minister Murray Watt said.

“This is just one pathway to resilience, with both the Albanese and Palaszczuk Governments collaborating on home-raising and renovations, betterment projects, mitigation funding and economy recovery programs in disaster prone regions across Queensland.”

The Energy and Public Works Department is managing retrofitting and house-raising, while the Queensland Reconstruction Authority is managing the buy-backs, together with local government.