QLD SE Qld real estate price and flooding

In view of current heavy flooding in SE Qld, would it present a temporary drop in RE prices in those areas? Or would sellers consider it as a temporary setback and still demand boom prices?

 

Doubt it mate.... might slow down and/or properties in non-flood prone areas will be selling at a premium.

 

Is there such thing as 'non-flood prong areas' in SE Qld right now?

 

All I know is we considered Bundaberg and Townsville for investment, we had a PM in Bundaberg. Recent events, no way would we invest in the region. Just personal risk profile. Looking in Adelaide now.

 

I agree. And it's only going to get worse over time with climate change.

Sure you can buy properties that are 'not flood effected', but the damage and disruption to the local economy is all the same.

Also agree with Sash in that there will be mass migration from QLD back to Syd/Melb over the next few years. Coupled with the fact that the economic driver there is totally unsustainable, coal.

The new land tax reforms don't help too.

 

Nah this flood wont have much impact on prices. Ppl have very short memories especially when these floods are only categorised as Medium severity and they are nowhere near as bad as the 2011 ones at all. Only places like Gympie copped it the worst.

Most of the flood maps are pretty accurate from what I am seeing. Majority of the ppl bought in them places already knew the risk. Even though many streets are flooded 90% of houses are not dont forget that.

New landtax reforms are not passed. They wont pass so one should not be basing their investment on these at all at the current time. There is always talk of changing this and changing that - tax reforms are some of the hardest to pass into law ever.

 

And how will it affect insurance premiums...
Brisbane River's flood peak revised from 'moderate' to 'major'

Live: Schools to close tomorrow, people urged to work from home as south-east Queensland deluge continues

 

I don't think GC will be affected. Nor Logan.

Gympie will.

Not sure about Brisbane, but chance Sunny coast is.

 

Of course there are.
The majority of Brisbane suburbs are rarely affected by floods.
Most suburbs that are affected by floods are well known.

 

You might see the odd water damaged house up for sale, but I don't think you'll see a drop across the board.

 

After the 2011 flood, prices didn't pick up by any meaningful amount until 2020.

There should be a bargain hunter bounce. But that kind of investing is not for me.

Remember that this is a property investor forum where many hold multiple properties, so 'rose tinted' views may be commonplace.

 

95% of houses didnt flood. If your waiting for a bargain after today you'll be waiting a long long long time.

Only a very little amount of houses actually flooded out of all the houses up in Brisbame and the ones that did the owners already know they are sitting in low lying flood areas. Some will want to sell up, some wont. Out of that 5% that did flood and the ones that do actually want to sell, you'll still be fighting against ppl to buy it.

So yeah........no......its not going to drop in price.

If it was flipped around and 95% of houses flooded and only 5% did not - well then you'd have the bargain of the century. LOL - too bad its not the other way around.

 

Mum and Dad live out on the Albert catchment and I have some beehives on the Logan river upstream from logan village. Parents are saying that the Albert is higher than 2017 and the owner of the property my hives are on can't see them anymore (they were located above the 2017 floodline, it is possible a landslip happened though). It is possible the two rivers peak at different times sparing Beenleigh/Eaglby but BOM is now advising of peak flood heights equal to TC Debbie if upper rain forecast happens.

 

Unfortunately yes. Indeed if the hives are not visible then it is 99% sure they have washed away. On the plus side it would have been a reasonably quick death for them because the water temp would have quickly put them to sleep/stupor as it were. I could have gone out to them to move them but in all likelihood I would have gotten stuck in floodwaters myself, particularly after loading the Ute with several 100kg's of hives.

 

Well the bom is showing major flood level for Logan Albert, so seems like peak higher than looked. Not sure it'll beat 2017. That was huge.

I guess this flood is widespread, from Gympie to Kyogle, maybe that is the feature of this one, rather than record. Although in Gympie it was a record.

Sorry for bees

 

They might come back as zombie bees. With zombie honey. Imagine? I’m sure there will be a market for undead honey.

 

Lismore is being evacuated now.

And the NSW BOM has said that this severe weather system may actually travel down along the coast to Southern NSW too.

So there are numerous areas of NSW...including parts of Newcastle, Central Coast and Sydney that may experience significant flooding later this week.

NSW braces for worst floods in a century

I guess it would be common sense, then, for anyone that lives along the NSW Coast to have some torches, candles and a few days of food.

Don't rely on the government to keep you safe and well fed...

 

+1. You'd have to be mad to. Take whatever actions you can to secure your safety.

 

I’m personally intrigued to see how Marsden Park/ north Penrith areas handle this deluge. They struggled at the beginning of 2021 but this will surely be worse. And a lot of cheap housing has been built on flood plains lately