In 2026, houses are once again being brought to the market in Australia with a formal starting price of just $1. These are government-backed auctions in New South Wales, where properties are sold without a reserve price, meaning a house can genuinely be purchased for a symbolic amount.

🌊The program is implemented in the Northern Rivers region, including the city of Lismore, which was severely affected by the 2022 floods. More than 130 properties have already been sold under the scheme. Auction prices range from $1 to approximately $130,000, with some transactions closing at around $2,500.

The purpose of the program is to remove housing from flood-prone areas and reduce future compensation costs. Importantly, buyers acquire only the structure itself, not the land it currently stands on.

📦 After the purchase, the buyer is required to:

— relocate the house to a safe, non-flood-prone area;
— already have a suitable land plot prepared for installation;
— complete the relocation within the установленный срок (by the end of 2026);
— cover all associated costs, including transportation and installation.

The main expenses begin after the purchase. According to government recovery programs, the typical cost of relocating a house can reach approximately $65,000–$70,000, and may be significantly higher in more complex cases.

📍 Another key requirement is having a land plot where the house will be relocated. Even in affected regions, land prices often range from $170,000 to $320,000, while in more liquid locations they can be twice as high.

As a result, the real cost of such a project typically includes:

— house relocation: approximately $65,000–$100,000;
— land purchase: around $170,000–$320,000+;
— foundation works, utilities, and renovation: an additional $25,000–$70,000.

📊In total, the overall budget can reach $250,000–$500,000 or more, which is comparable to or even exceeds the average property prices in the region. For comparison:

— median house price: approximately $330,000–$420,000;
— most common transactions: $300,000–$450,000;
— apartments: around $180,000–$230,000.

In higher-risk areas such as South Lismore, lower prices can still be found, with houses typically ranging from $250,000 to $300,000.

💡 Given the constraints and the high total cost, purchasing a completed property is often a more practical and cost-efficient solution. Ready-to-move-in properties for both living and investment are available on our website.