When torrential rains caused widespread flooding across south-east Queensland, the property market remained surprisingly resilient. Experts note that interstate and international buyers continue to show strong interest.
Although some homes in Brisbane’s flood-prone suburbs were inundated for the second time in 11 years, data shows that property prices in these areas tend to recover and even rise over time. Historical figures indicate that median prices in flood-hit suburbs more than doubled between 2011 and 2021.
For instance, Graceville and St Lucia experienced a slight dip immediately after the 2011 floods—1.5% and 3.7% respectively—but by 2021, prices had climbed 107.7% and 101.3%. West End saw a 7.5% increase just a year after the floods, far outpacing the overall Brisbane growth.
Dr Nicola Powell from Domain emphasizes that while floods can impact short-term sales, the underlying market remains strong. Land value and demand ensure that prices eventually stabilize and continue to grow.
Dr Diaswati Mardiasmo from PRD agrees, noting that even historically flood-impacted suburbs have consistently experienced long-term price growth, further supported by Brisbane’s ongoing property demand and upcoming events like the 2032 Olympics.