Thousands of residents devastated by the catastrophic flooding in the New South Wales Northern Rivers region will soon be able to have their homes on the floodplain bought back or repaired as part of a new $800 million program.

Extreme flooding the Northern Rivers and Hawkesbury-Nepean in February and March took emergency agencies by surprise, killing 13 people and destroying 4000 homes.

A $800 million Northern Rivers Resilient Homes Fund, co-funded by the NSW and federal governments, will offer up to 2000 flood-affected residents the chance to raise, repair or retrofit their house to make it more flood resilient.

For homes in the most dangerous areas of the Northern Rivers, the governments will offer to buy the home and land from the owner.

“We know that disasters are expected to become more frequent, and more severe due to climate change,” Prime Minister Anthony Albanese said.

“This repeated, relentless flooding can be emotionally and financially draining and we want communities to know we will be there to support them now, and as they recover.

“That’s why we’re working with the NSW government to develop practical solutions to protect lives and livelihoods.”

The scheme comes after ongoing talks between the Prime Minister and Premier Dominic Perrottet about how to best help communities reeling from natural disasters.

The pair will meet residents affected by the flooding in Lismore on Friday, where the project will be formally announced.

Funding will be open to residents impacted by February and March floods in the Ballina, Byron, Clarence Valley, Kyogle, Lismore, Richmond Valley and Tweed local government areas.

The voluntary buyback scheme is on offer to home owners in the most vulnerable parts of the Northern Rivers, where renewed flooding continues to pose a catastrophic risk to their lives.

Home owners will be offered cash to either buy back, raise, repair or retrofit their property, based on expert assessments of how severely the flood hit the home, its safety risks and potential future flood levels.

Those eligible will be given a payment based on a valuation of the home and land.

Up to $100,000 will be available to raise homes, and up to $50,000 for retrofitting – where flood risk can be mitigated by better building standards.

The state government will also spend $100 million on buying new land in flood safe locations for new developments in partnership with the Northern Rivers Reconstruction Corporation.

The Premier said simply rebuilding devastated communities in the wake of natural disasters could not continue in the same way it had in the past.

“I saw first-hand the devastation extreme flooding caused across the Northern Rivers and I hope this program provides relief for so many residents who have suffered for too long,” Mr Perrottet said.

“We are stepping up to provide options for residents to move out of harm’s way and protect themselves and their families.”

-AAP