Impact of the QLD floods on the local property market

The tag line has always been ‘Queensland: beautiful one day, perfect the next’ but following the tragic January floods it seems many people might be are questioning if that is still the case.

In the week that the Commission of Inquiry into the Queensland floods begins it is timely to reflect on the impact of that crisis on the local property market.

I’ve just visited our Portside Wharf office in the Brisbane suburb of Hamilton and I think the ‘Beautiful one day, perfect the next’ tagline still stands true.  It is a magnificent city.  The strength and depth of the Brisbane community spirit shone through during the floods and I think that spirit, together with the usually glorious Brisbane weather, will be the foundations on which the area will rebuild.

For the moment however emotions are still very raw and that is being reflected in the local property market

Despite its riverfront location the Portside Wharf wasn’t directly impacted by the flood.  The shops and restaurants continue to thrive and work on the latest luxury apartment complex development released to the market, The Promenade, continues.  However as a result of large numbers of property coming onto the market in Queensland and the national trend to act with caution prices have suffered.

The result is a great opportunity to secure a good deal on a prestige Brisbane property.