Flood buybacks confirmed: PM’s shock news for 2000 homeowners

2000 Northern Rivers homeowners will get the news they’ve been sweating on in the morning as Prime Minister Anthony Albanese makes ‘the call’ in Lismore. Here’s what you need to know.

Prime Minister Anthony Albanese. Picture: PMO via NCA NewsWire

Two thousand Northern Rivers homeowners will get the news they’ve been sweating on in the morning as Prime Minister Anthony Albanese makes ‘the call’ in Lismore.

An $800 million package will give flood-whacked residents the chance to raise, repair, retrofit or have their home voluntarily bought back.

The announcement will cover residents hit by the 2022 floods in the seven council areas of Ballina, Byron, Clarence Valley, Kyogle, Lismore, Richmond Valley and Tweed.

The scheme will be jointly funded by the Commonwealth and NSW governments.

The buyback scheme will apply to those residents whose homes are deemed most at-risk in future events.

Marist Rams Lismore players put footy on hold and dig in for the flood recovery. Picture: Marist Rams Lismore

It will be a voluntary program - people will not be forced to walk away from their home.

The cash will be offered only to Northern Rivers residents located in the most vulnerable areas - where major flooding would pose a catastrophic risk to life.

NORPA's theatre in Lismore, NSW in the flood of February 2022.

The Northern Rivers Resilient Homes Fund package will also provide financial assistance of up to $100,000 for house raising or up to $50,000 for retrofitting, for homeowners in areas where flood risk can be reduced by better building standards.

The state government will provide $100 million to acquire land and open up new flood-safe locations for future development, in partnership with the Northern Rivers Reconstruction Corporation.

Lismore resident Courtney O'Brien had 2.5m of floodwater destroy her home in February.

The corporation is currently conducting an expression of interest process to identify suitable parcels of land.

Eligible homeowners will be offered one of the three available measures, based on expert property assessments:

* Flood impact severity data

* Safety risks, and;

* Potential future flood levels.

NSW premier Dominic Perrottet fronts the media at Southern Cross University to release the 2022 Flood Inquiry. Picture: NCA NewsWire/ Scott Powick

There has been widespread angst across the Northern Rivers since the floods - with residents growing increasingly desperate for information about a buyback program.

Lismore state MP Janelle Saffin hinted earlier this week she expected an imminent announcement on the governments’ plans - and that will be made formal when PM Albanese lobs at Lismore on October 28.

In a statement from the Prime Minister’s office embargoed until 10.30pm today, Mr Albanese said that by retrofitting homes to make them more flood resilient, and moving those at most risk away from danger, communities can be safer during future flood events.

Lismore resident Courtney O'Brien had 2.5m of floodwater destroy her home in February.

“We know that disasters are expected to become more frequent, and more severe due to climate change, and that’s why we’re working with the NSW government to develop practical solutions to protect lives and livelihoods,” he said.

“We know this repeated, relentless flooding can be emotionally and financially draining and we want communities to know we will be there to support them now, and as they recover.”

Prime Minister Anthony Albanese meets local residents and emergency relief workers.

NSW Premier Dominic Perrottet said the Resilient Homes Program would help Northern Rivers’ residents take further steps on the road towards recovery while also boosting community resilience.

“I saw first-hand the devastation extreme flooding caused across the Northern Rivers and I hope this program provides relief for so many residents who have suffered for too long,” Mr Perrottet said.

“We are stepping up to provide options for residents to move out of harm’s way and protect themselves and their families but we cannot continue to build back as we have in the past.

“We will work with the Northern Rivers community to ensure repairs, retrofitting and voluntary buybacks are undertaken in a way that will better protects people and their homes from future flood events.”