Google AI
The Times Australia

Times Media

What Does Buying in the Flood Zone Mean for Property Values in Brisbane?

  • Written by: The Times

Due to the floods Brisbane has been experiencing semi-regularly, many properties in flood zones have been selling for much cheaper prices. Within a year of flooding, the median valuation of flood-impacted properties has dropped below that of unimpacted properties, leading to cheaper houses but at the cost of damages and possible future flooding. Three suburbs that saw this the most are Milton, Rocklea, and Fig Tree Pocket. Despite homes being on the more expensive side, properties in these suburbs which are older, lack proper drainage, or have damages, are cheaper than the homes unaffected by the floods.

Building Inspections to Check for Flood Damage

Building Inspections in Milton are incredibly necessary since the lower lying areas are prone to flooding, having been badly affected by the 2011 floods.

It’s essential to look out for:

  • Concrete Spalling in the foundation

  • Cracked, peeled, or bubbling paint

  • Landslip

  • Water tains in walls and floors

  • Wet patches or greener grass areas in the front and/or backyard – an indicator of stormwater drainage problems. 

Building Inspections in Rocklea have found that something as simple as elevated storage could indicate the seller is trying to obscure the extent of flood damage in the past, so having an inspector evaluate the property with an expert eye is important to the longevity of the property.

Some damages to watch out for are:

  • Cracks in the walls due to subsidence

  • Damage to or uneven floors

  • Dampness or a damp smell

  • Decay under the flooring

When it comes to Building Inspections in Fig Tree Creek, flood damage can be insidious and not as obvious on first glance – which is why it pays to book an inspector with local knowledge you can trust.  

It is important to stay vigilant for flood damage such as:

  • Visible mould or mould smell

  • Damage to the roof

  • Broken pipes or illegal plumbing connections

  • The state of the gutters

Having a professional examine the property for flood and water related damages could save thousands of dollars when those issues develop into expensive problems. It will also bring to light any aspects of the property which could become problematic during the next rainstorm or flood event. Checking to see if or how badly the property flooded in previous downpours, having an expert inspect the property, and fixing the damages will save you money in the long-run as well as boost the value of your home.

Property Times

Four Numbers First Home Buyers Should Run Before the Spring Listings Land

Rates are on hold, listings are about to surge, and the thresholds that decide what help a first home buyer gets have moved. Here is the maths to do before you fall for a listing.Spring is when Australian property wakes up. Listings climb through Sep...

Where to Escape This Winter: Marnong Estate

As the temperatures drop, the appeal of escaping the city for rolling vineyards, long lunches and a glass of cool-climate red becomes hard to resist. Just 35 minutes from Melbourne's CBD, Marnong Estate is emerging as one of Victoria's most compell...

Major Health and Wellbeing Hub Breaks Ground at Essendon Fields

Work is now underway at 74 - 76 Hargrave Avenue following a sod-turning ceremony on Thursday, marking the latest stage in the continued transformation of Essendon Fields into a major mixed-use destination. The 4,054-square-metre development will b...

Australia's Housing Market After Labor's Tax Changes: Did the Predicted Property Crash Arrive?

Several months after changes to property investment tax settings, Australia's housing market has delivered a more complex picture than many predicted. When the Federal Government announced changes affecting property investors, some commentators wa...

The Times Property Section

Australians Put Major Renovations on Hold and Turn to Smaller Home Updates

Nearly half of Australian homeowners have delayed a major renovation in the past two years, accord...

Epson launches LifeStudio Series of smart mini projectors

A major new chapter in smart home projection “designed for every moment” Epson has announced on...

Times Magazine

The $4,699 iPhone: why people still want Apple’s best

The iPhone 18 Pro Max can cost more than many people would spend on a computer. Its appeal says as...

BYD Shark 6 v Toyota LandCruiser 300: can new technology defeat an Australian legend?

The BYD Shark 6 and Toyota LandCruiser 300 Series may appear to belong in different vehicle catego...

Technology

MISSION 1, MISSION 1 PRO and MISSIO…

Today, GoPro, Inc. (NASDAQ: GPRO) announced that its MISSION 1 Series of compact cinema cameras ha...

Local News

Fitstop Global Games to Bring 1,000…

The Australian-born fitness brand is bringing its global competition home, with athletes from across...

Culture

Retail therapy: Do shops sell us things — or …

There is a particular pleasure in buying something new. It might be a pair of shoes, a television...

Travel

School holiday pricing: fair market economics…

Every Australian family with school-aged children knows the pattern. Look at an airfare, hotel ro...

The Times Features

Retail therapy: Do shops sell us things — or dreams?

There is a particular pleasure in buying something new. It might be a pair of shoes, a television...

Shipstern Bluff surfing movie

STERN FEVER is a new independent feature length documentary telling the story of Shipstern Bluff, ...

$1 Million of Free Care to Help Older Australians Falli…

Almost 154,000 older Australians are waiting to receive all of the in-home aged care funding they ...