PROPERTY PRICES COULD FALL BY 35 PER CENT
Written on the 2 March 2011
PROPERTY values in Brisbane's flood affected areas could drop in price by up to 35 per cent in the next 12 months, according to a Queensland University of Technology (QUT) property economics expert.
“It is important to note in Queensland 0.5 per cent of houses had water over habitable levels due to the floods and only a fraction of these will be likely to sell. We expect minimal transactions and no significant drop in values, outside general market movements,” she says.