Friday, February 04, 2011

2011 Floods and the Brisbane Property Market

by Tracie Hocart, Residential Property Solutions

I was only 4 years old when the 1974 floods swept through Queensland and I really can’t remember a lot about the actual event, apart from the fact that there were a lot of the round plastic garbage cans (common at the time) floating around the streets. Following that time, everyone just rolled up their sleeves and got on with the clean up. There was a real no nonsense approach to getting things back to normal. Yes, it was devastating to many, but people realised that the only thing to do was to fix matters and move on.
Since 1974 the population growth in South East Queensland has been enormous, as has improvements to infrastructure. Things have been ticking along nicely despite the GFC. In fact, with the mining industry booming here we have been expecting big things in Queensland over the next few years.

The first images of the 2011 floods flashed onto our television screens on Monday last week when footage of tsunami like waves were seen pushing cars like boats down rapidly flowing rivers that were, minutes before, Toowoomba streets. Toowoomba is a regional Queensland town, approximately 100kms West of Brisbane, and high up on a mountain. Much of the devastation occurred in this area along with the Lockyer Valley down the hill from Toowoomba. It has been a very sad time for many of these Queenslanders.

Back in Brisbane on Wednesday it was evident the Brisbane River was going to flood, due to the fact that rainfall levels had been beyond expectations for weeks on end, and our dams were well over ideal capacity levels. People in low-lying areas were told to expect major flooding and prepare by removing their possessions and evacuating their homes.

Whilst the flooding affected 11,900 homes many of these were situated...


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