EXCLUSIVE The picturesque spot close to Byron Bay where you can pick up a two-bedroom home for just $347 - but there is a HUGE catch…
Aussies are snapping up homes in a scenic northern NSW region for as little as $347 - but will have just 12 months to shift the properties out of flood danger zones.
Nearly 20 properties were sold by the NSW Reconstruction Authority over two nights of auctions at Lismore Heights Bowling Club this week, with more due to be sold.
Northern Rivers residents impacted by the 2022 Lismore floods sold their homes at market value to the authority in the years since the deadly weather event.
Buyers, who bought homes from the authority from as little as $347 to over $100,000, will have one year to move the homes from flood-prone land to safer locations.
Rob Horder, principal of PRD Northern Rivers - the real estate agency managing the sales - told Daily Mail Australia demand was strong.
'We had two open days for each property and they were all well attended,' he said.
'All in all, it was a good outcome.'
Asked about the best deal struck on the two nights, Mr Horder said he couldn't say for certain but described the $347 Kyogle home as a 'unique' find.
The 157sqm three-bedroom property includes two bathrooms, a large balcony, a central family room, a living and dining area, and a study.
Another standout was an empty two-bedroom home at 14 Cathcart Street, Lismore, which sold for just $2,300.
Previously sold for $255,000 in 2023, the weatherboard home was estimated by real estate agency Domain to be worth about $315,000.
A three-bedroom home at 19 Coleman Street in Lismore fetched $2,500 while another on the same block at 23 Coleman Street went for $13,000.
A nearby property at 172 Union Street, South Lismore sold for $7,500 after settling for $220,000 in June, 2023.
The most expensive sale was a four-bedroom home at 15 Rhodes Street, South Lismore, which went for $101,000.
'It has three bedrooms, it's your typical weatherboard Lismore home with a nice façade, in good condition inside and out,' Mr Horder said.
'It's been fully renovated with a brand new kitchen, new bathroom, new wall linings.'
Renovated since the 2022 floods, the 15 Rhodes Street property attracted the highest closing price of any property over the two days of auctions
The second-highest closing price went to a three-bedroom Queenslander at 12 Molesworth Street, Lismore, which fetched $77,000.
Previously sold for $230,000 in 2014, the home features French doors, a wrap-around deck, two parking spots and a 1,328sqm block nestled in tropical forest.
Mr Horder said homes at the higher end of the price range were generally renovated and ready to move in but all homes were tested and approved for relocation.
'They were all deemed suitable to be sold and removed. The Reconstruction Authority did hygiene reports on all of them as part of the DA process,' he said.
Of the 20 properties listed, 18 sold, with one still under negotiation. The auction attracted a wide range of buyers - from first-home seekers to rural landowners.
'It was a mix from younger families to land holders that have rural properties and a couple of investors, but mostly owner-occupiers,' Mr Horder said.
'They were mostly people buying them to put onto existing blocks they have or farms that they have. There's some looking at dual occupancy scenarios - one buyer, who didn't secure one, they were looking to put their daughters in one on their farm.'
NSW Reconstruction Authority estimated the average cost of relocation costs between $80,000 and $140,000.
Factoring in design, approvals, compliance and site works, however, the total average cost could be as high as $340,000.
Ian Graham is the director of Graham Home Removals, one of two relocation companies licensed to conduct Reconstruction Authority removals.
He told Daily Mail Australia he had been inundated with requests from interested buyers under the relocation scheme.
'I've gotten hundreds of people asking me how much it costs to move a house from a flood-prone area of Lismore in recent months,' he said.
Another 10 homes, all located in Lismore and North Lismore, will go under the hammer on July 8, through Wal Murray & Co First National Real Estate.
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