buyers were reluctant to purchase anything that had been inundated - whether it is the home or property.
buyers were reluctant to purchase anything that had been inundated - whether it is the home or property.

Flood areas spook buyers

WARWICK continues to feel the effects of the floods when it comes to real estate.

One year on, people are still biting their nails, fearful to buy a home that could be in the firing line if a flood were to hit again.

Wade Real Estate agent Denis Courtney said buyers were reluctant to purchase anything that had been inundated - whether it is the home or property.

"People ask all the time if it had been affected by flooding so it's very prominent in their thinking," Mr Courtney said.

Mr Courtney said he recently sold a flood-affected property for 25% less than what it was worth prior to the disaster.

"Even though the home was not inundated, some of the property was, so it still carries that stigma," he said.

PRD Nationwide real estate salesman John Eyears said it was this, on top of the Global Financial Crisis, sending real estate into "a dark place".

But it's not all doom and gloom, local real estate agents and builders have been celebrating the extension of the Queensland Building Boost until the end of April.

The grant started in August last year and was aimed at bolstering the building industry. After a last-minute surge in applications, the State Government decided to prolong it.


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