- Almost 500 offers accepted for buy-back following the 2021-22 flooding event
- 300 voluntary home buy-backs have now been settled under the Resilient ³Ô¹ÏÍøÕ¾s Fund
- Already over 100 homes have been demolished or removed, moving residents out of harm’s way
Nearly 500 flood-impacted Queensland families are now safer from future natural disasters, after having accepted an offer to have their home bought back under the Resilient ³Ô¹ÏÍøÕ¾s Fund.
The program, a jointly funded initiative delivered through Commonwealth-State Disaster Recovery Funding Arrangements (DRFA), was established in May 2022 following the catastrophic 2021-22 rainfall and flooding events.
To date, 304 sale contracts under the Voluntary ³Ô¹ÏÍøÕ¾ Buy-Back program have already settled, and 110 homes have been demolished or removed, allowing the impacted residents to move to a safer location, without the risk of future flooding.
In total, 497 homeowners have accepted offers for buy-back out of the 676 offers which have been presented to homeowners so far.
A total of 789 valuation inspections have been undertaken so it is expected that the number of homes purchased under the program will increase significantly.
Quotes attributable to the Minister for Emergency Management Senator the Hon Murray Watt:
“This program has now exceeded original estimates for homes identified and predicted to be settled for purchase, with almost 500 homeowners now accepting offers to buy-back.
“These additional homes are being purchased through efficiencies identified in the existing disaster funding allocation.
“By helping people to relocate to less disaster-prone locations, we can help to defend against the horrific loss of life and property damage that we’ve seen in previous disasters.
“The Resilient ³Ô¹ÏÍøÕ¾s Fund has already delivered major relief to Queensland families who have now been moved to safer ground and it’s great to see the program making a real difference to people’s lives.”
Quotes attributable to the Deputy Premier and Minister responsible for the Queensland Reconstruction Authority Steven Miles:
“Under the Resilient ³Ô¹ÏÍøÕ¾s Fund, voluntary home buy-back was identified for homes that were the most severely impacted and at the greatest risk of future flooding.
“Earlier this year we announced we were increasing the number of properties identified for buy-back from an initial estimate of 500 homes, to more than 800 properties.
“As home assessments of registered properties progressed and flood risk data was analysed, it became apparent there were more homes that should be candidates for buy-back.
“By doing so, we are enabling flood-impacted homeowners to accept life-changing offers, signalling a safer future for them and their families.
“The program is also ensuring that no future resident will have to suffer the same devastating impact of flooding in that location again.
“Following homeowner agreement for buy-back, the program funds the respective council to purchase the land, with all homes purchased under the program demolished or removed.
The land is then re-zoned to an appropriate, non-occupied use such as green space.
“Already, 110 homes purchased under the program have been demolished or removed.
“In early July, the Queensland Reconstruction Authority conducted its fourth and final round of damage assessments for the 2022 South East Queensland floods.
“Data from this operation revealed almost 90 per cent of impacted properties were no longer showing signs of damage.
“The knowledge we gain from these assessments allows us to focus our efforts on assisting those still recovering from natural disasters.
“Taking care of Queenslanders is the Palaszczuk Government’s number one priority, and this is reflected in the success of the Resilient ³Ô¹ÏÍøÕ¾s Fund.”
