Despite major flooding in south-east Queensland, Brisbane’s property market has continued to demonstrate resilience. Buyers from interstate and overseas are still active in the market.
Homes in flood-affected suburbs may be temporarily impacted, yet over time, values recover strongly. Median property prices in some areas more than doubled from 2011 to 2021.
Graceville and St Lucia suffered minor declines immediately after the floods but surged by over 100% a decade later. West End showed a 7.5% price increase just one year after the flooding, outperforming Brisbane’s average growth.
Dr Nicola Powell from Domain says that short-term dips are temporary, and the long-term market remains robust, supported by strong land values.
PRD economist Dr Diaswati Mardiasmo agrees that historically, even the hardest-hit suburbs have shown steady long-term growth, with added potential from Brisbane’s 2032 Olympics preparations.
(Source SMH) (worth sharing)