Queensland flood zone buy-back program passes milestone – Daily – Insurance News

The Queensland Government has arranged more than 100 sales contracts under a $741 million program that allows flood-affected homeowners to sell their properties for values ​​before the disaster and move to a safer place.

So far, 407 offers have been presented to homeowners, 260 have been accepted and 103 have been completed, the state government said in a statement today.

“A total of 479 valuation inspections were carried out so we expect the number of offers accepted for buy-back to continue to grow in the coming weeks,” Deputy Premier and Minister responsible for the Queensland Reconstruction Authority Steven Miles .

“We will continue to prioritize those worst affected by flooding in 2021-22, as well as vulnerable applicants who are at greatest risk of flooding in the future.”

Homes bought under the program are demolished and the land rezoned to an appropriate, unoccupied use such as green space, Mr Miles said.

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

The $741 million Resilient Homes Fund was established in May after flooding in South East Queensland damaged nearly 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 am very pleased with the progress of the Resilient Homes Fund, and will continue to work to ensure more people are protected,” said Federal Emergency Management Minister Murray Watt.

“This is just one path to resilience, with the Albanese and Palaszczuk Governments working together on house raising and renovations, improvement projects, mitigation funding and economic recovery programs in disaster-prone regions in all of Queensland.”

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

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