The south-east Queensland floods caused concern, but the property market has proven resilient, with strong ongoing demand from both domestic and international buyers.
Properties in flood-prone areas may face short-term price dips, but historical evidence shows they recover well. Between 2011 and 2021, median prices in some affected suburbs more than doubled.
Graceville and St Lucia saw slight decreases immediately after flooding, only to rise more than 100% by 2021. West End increased 7.5% in the year after the 2011 floods, outperforming the city’s overall growth.
Dr Nicola Powell from Domain points out that while individual sales may be temporarily affected, the market is underpinned by land value and strong buyer demand.
PRD chief economist Dr Diaswati Mardiasmo notes that historically, even the most affected suburbs enjoy long-term growth, with further gains expected ahead of the 2032 Olympics.
(Source SMH) (worth sharing)