Australian Property Prices after the Floods in 2011

Discussion in 'Australia Property' started by Damian George, Jan 17, 2011.

  1. Damian George

    Damian George New Member

    Hi All

    Found an article in the Australian press re House Prices in Australia,

    What does everyone else think - i am sure rents will rise and property that wasn't damaged to go up in value, but those areas that were damaged to fall sharply

    read the article www.news.com.au
     
    Last edited: Jan 17, 2011
  2. Wendell Zuchs

    Wendell Zuchs New Member

    I'm sure those flooded houses are down in value due to damages and people think not to buy home there because from time to time flood will go up there.
     
  3. Annie_Smith

    Annie_Smith New Member

    Flood has ravaged everything and thus there are no buyers that's why property rates are down.
     
  4. Damian George

    Damian George New Member

    The property Market in south east queens land seems not to be moving at all. I am trying to sell an apartment and reduced the price by 10%and nothing is happening at all even though two agents agree that it is priced to sell
     
  5. Joe Woodford

    Joe Woodford New Member

    I cant see them changing for a while. I have a friend who is really struggling to shift property out there at the moment
     
  6. Damian George

    Damian George New Member

    It is strange I thought things would move a little as so many houses need to be destroyed. Seems the Oz spurt is alive and well and they are just making the best of it
     
  7. expo09

    expo09 New Member

    I don't think the floods will stop people buying in the flooded areas through fear of the same thing happening again. Look at the US, where people live in earthquake areas knowing one's going to come eventually.

    Obviously damaged homes won't sell as well, but once repaired they should.
     
  8. Dave_Velasco

    Dave_Velasco New Member

    Houses in the area as well as lands might have some hard time to be sold out to people -since people are aware now that the place can be flooded anytime possible when such situations happen again. That's a very big factor when it comes to selling properties and land for those buyers.
     
  9. Investment Guru

    Investment Guru New Member

    Sad things like this can happen...but as the one would tell the other. When the going gets tough, we must be tougher. Rise and hope that this will never happen again.
     
  10. Ben334

    Ben334 New Member

    It is interesting to hear so many people are having difficulty getting their property off the market. Is this even after redevelopment?

    According to an article on the expertVIEW blog (sorry I'm not allowed to post the link), the flood-affected properties that are coming back onto the market are achieving higher asking rents, due to the improvements carried out on the property.
     
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