Queesnland has undergone a dramatic washover as the flood waters sweep through, not only delivering a blow to the houses but the real estate industry as a whole throughout the state.
Despite these tumultuous times, Brisbane’s market continues to deliver its buyers fabulous housing day after day with million dollar homes taking charge in even the more historically flood challenged suburbs such as Sherwood, Graceville and Oxley.
One property to catch the market’s eye, 236 Long Street East, Graceville recently sold for a massive $1.81million, well over the reserve price and just days after the floods erupted. This gorgeous home is just one of many being snapped up by buyers.
236 Long Street East, Graceville – Sold for $1.81million
The market is still experiencing highs and the interest is still there with online sales making it more convenient to purchase a property whilst also keeping everyone safe from the water. Auctioneers are flat out with ‘up to 10 auctions booked for one day… 7 of those sold before reaching the auction date…’. This boom despite Brisbane’s being underwater is due to the land value. Brisbane’s properties reside in prime locations for all buyers especially for the renewed burst of international buyer activity. Interstate buyer interest is also following suit giving international market competition. As much as 50% of home buyers are international or interstate residents.
Seeing past the flooding water is key at this time, as value will be even higher once the water recedes with properties likely to pop up even more. However, waiting for this time could be detrimental as many luxurious properties are already up for grabs, waiting means missing out on prime locations for offer now. The best way to find the best buys is to keep a thumb on the pulse of the market and constantly assess the best properties for you.
As the rain continues to pour, the market will continue to boom. Brisbane’s resilient market is still open and welcome to all.