Buybacks, swaps part of NSW flood response

Buybacks and land swaps will form part of the New South Wales state government’s response to the devastating Northern Rivers floods, as a landmark inquiry into the disaster puts the additional recovery bill at an extraordinary A$3 billion (NZ$3.3b).

The long-awaited independent flood recovery report has recommended a voluntary buyback programme for the thousands of residents in the town of Lismore who lost homes in this year’s deadly disaster.

NSW Premier Dominic Perrottet has committed to accepting all the recommendations from the inquiry, including buybacks and land swaps, which regional councils have supported. How- ever, NSW will need federal support for the programme, which will also include the rebuilding of long-term assets.

More than 10,000 homes in the Northern Rivers were damaged when water reached record flood levels in February and March, leaving 4055 properties deemed uninhabitable.

In Lismore, the Wilsons River peaked at 14.4 metres on February 28, more than 2m higher than the previous record, submerging two-storey buildings in the CBD. Hundreds of people were rescued from their rooftops.

Five months after the disaster, more than 1000 people are still in emergency accommodation.

Lismore Council has estimated that 1000 households should be relocated, at a cost of A$400 million (NZ$443m).

Mayors in flood-affected parts of northern NSW have been calling on the government to push ahead with voluntary land buybacks without waiting for the inquiry’s recommendations.

Queensland announced a A$350m home buyback scheme in March, a month after floods hit the southeast part of the state. The scheme is expected to help 500 people sell back their houses to the government.

The flood inquiry report is still under review by the NSW state government, and a response to the recommendations is expected in the coming weeks.