Auckland Council Flood Buy-Back Sparks Controversy, Leaving Neighbour's Home 'Worthless'

By Ben Leahy, NZ Herald · 26 July 2025

A Browns Bay man is reeling after discovering that his $710,000 home has become effectively “worthless” following a council decision to buy out the nearly identical unit next door for just $165,000. The shocking revelation has left Matt Weir and his father, Jim, grappling with the emotional and financial consequences of a policy aimed at flood recovery.

A Sudden Crash in Value

Jim Weir said the family had no idea the two-storey Beach Rd unit next to their home had been purchased by Auckland Council as part of its $2 billion flood buy-back initiative. Once they saw the council valuation, the family was overcome with a sense of dread. Jim believes the market value of Matt’s property has been destroyed overnight, rendering it unsellable in the current climate.

“Matt’s property is worth exactly nothing,” Jim said. “It is unsaleable.”

A Policy with Unintended Consequences

The Weirs had not applied for the buy-back scheme because they did not believe the criteria of “intolerable risk to life” applied to their home, even though Matt uses a wheelchair. The family now feels the council should have informed them about the buy-out of the adjacent unit, as it directly impacted the value of their home.

Jim said the situation highlights a growing concern among homeowners: the policy is leaving some families in financial turmoil, with inconsistent and frustrating valuations. Some first-time buyers have found themselves in a situation where the council’s buy-back offers are significantly lower than the prices they paid for their homes.

Community Concerns and a Call for Transparency

Auckland Council’s $2 billion buy-back initiative has been a lifeline for many, offering a way out of flood-prone areas. However, it has also been the subject of criticism, with some arguing that the program has gaps that are leaving families behind.

Community groups, such as West Auckland is Flooding, have raised concerns about the policy’s fairness and transparency. The group’s chairman, Lyall Carter, said while the buy-back has worked for most, the council must continue to engage in good faith with those left behind.

Jim Weir has now applied for a rates revaluation, arguing that his son cannot be expected to pay taxes on an asset that is effectively worth nothing. He described the council’s vastly different valuation of two “identical” properties as “spurious” at best.

Looking Ahead

As the council continues to buy out homes in flood-prone areas, the Weirs’ experience serves as a cautionary tale for other homeowners. With potential buyers likely to investigate flood risks through property reports and maps, the impact of the buy-back program on surrounding properties is becoming increasingly clear.

For now, the Weirs are left to navigate the emotional and financial fallout of a policy designed to protect lives but, in some cases, has had the opposite effect.

Keywords: Auckland Council, flood buy-back, Browns Bay, property valuation, flood recovery, property worth, managed retreat, housing policy, property market, home value