$500m buyback scheme announced – with no details on who, when or how

ABOVE: Stay, sell, raise or fix? Homeowners need to make decisions about their future. Photo: Contributed

Susanna Freymark

The State Government has announced $500 million for buybacks, land swaps and raising houses in flood impacted regions.

Criteria about how to apply and who will qualify and the general details have not been announced.

Federal MP Kevin Hogan said today, Monday, October 3 that he would ask the Federal Government to match the half a billion.

“Everyone needs to act as if it is their own mother and father who are not back in their homes,” Mr Hogan said.

“It will be for across the region including rural land.”

In May, Queensland announced $750 million for those affected by flooding to rebuild or floodproof their homes with a buyback scheme as well.

The Resilient Homes Fund was funded by the Queensland and federal governments.

As of today, 23 property owners have accepted a buyback offer.

But the wait for NSW residents has been long.

It is now more than seven months since the February–March floods hit the region.

Any funds or support for housing needs to be made public as soon as possible so residents can make decisions about where they will live and whether they will fix their homes and how they will fix them.

The Northern Rivers Reconstruction Corporation did not issue a statement about the NSW funding announcement.

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