The Queensland Government says 34 flood-impacted homeowners in Ipswich and Brisbane have accepted offers to buy back their home following catastrophic floods earlier this year.

The homes will be bought using the $741 million Resilient Homes Fund, which is jointly funded by the state and federal governments.

“Every property we can buy back through this program is a win for disaster resilience in Queensland and another step in ensuring we are better prepared for the next flood,” Federal Minister for Emergency Management Murray Watt said.

“These Queenslanders, once vulnerable, can now look towards a brighter future without fear of rising flood waters.”

Deputy Premier and Minister responsible for the Queensland Reconstruction Authority Steven Miles says the government expects to purchase about 500 homes.

“So many Queenslanders had their home ravaged by the floods earlier this year,” he said.

“We can’t stop floods from occurring, but we can take steps to reduce their impact and that’s why we put together the largest home resilience program of its kind to ever be delivered in Australia.”

Ipswich Mayor Teresa Harding says the council will now start the process of conveyancing and preparing for settlement, with some to be settled before Christmas.

“These houses will then be demolished in due course, with the land being re-zoned for non-habitable uses in accordance with Council’s obligations under the Resilient Homes Fund criteria.”

The fund remains open for Queensland homeowners affected by the floods.

Three options are available to applicants: retrofitting to a more resilient standard, house-raising, or in severe cases voluntary home buy-backs.

At October 12, there have been 5133 registrations of interest in the fund, including 563 people registering a preference for the Voluntary Home Buy Back Program, 1419 for house-raising, and 1968 for resilient retrofitting.