Did you catch our senior Buyers Agent Zoran Solano when he was recently on Your Money’s Auction Day program? If not don’t fear, here is a link to the video.
We cover topics such as;
Which suburbs were affected during the 2011 flooding in Brisbane?
- Rosalie / Paddington
- Chelmer / Graceville
- East Brisbane
- Bulimba / Hawthorne
- St Lucia
How has the flood affected the property?
- Confidence in some of the areas has been affected with several buyers now begin turned off due to media coverage of flooding.
- For around 12 – 18 months after flood there where still visual evidence of the floods with repairs and renovations occurring during this time enquiry was down.
- There was a minority of buyers actually doing the opposite and hunting down “Bargain” flood affected properties, but this is a small amount of buyers.
- Borrowing Restrictions / More Expensive insurance or No Insurance all where follow on affects of these flooding issues.
We discuss the different types of flooding?
- Brisbane River Flood
- Creek/Waterway Flood
- Overland Flow Flood
How do you research flooded properties?
- Consider proximity to Creeks and Parks as these are a sign of potential risk.
- Storm Water Pick up points close to the property on the Curb and Channel on the road is also another tell tail sign.
- Bottom of a Dip in the road or lower section of a hill.
- Undertake a Floodwise Property Report from the Brisbane City Council
- Check on Brisbane City Councils interactive mapping for flood overlays
- We also share a case study of the effects of flooding on a property and how it can effect value and resale.