Brisbane’s lower lying suburbs, including the city centre itself. This obviously had serious and far reaching consequences for the city’s property market, with many buyers electing not to dip their toe (pardon the pun) into the market and choosing to avoid properties located anywhere near the Brisbane river.
The market has seen a huge recovery in recent years though, with a strong resurgence in property prices, and new developments springing up across the city. Following years of heavy rain that have failed to result in any flooding (due to better flood mitigation procedures at Wivenhoe Dam), buyers are now much more forgiving and willing to purchase property in the suburbs that were previously flooded.
The Brisbane City Council has put together a simple tool as a result of the flooding, that is designed to allay a buyer’s fear about buying a property near the Brisbane River. This tool offered by council is the Floodwise Property Report, which is available freely on Council’s website.
The tool generates a report on the property, containing information such as the flood height of 2011 and various flood events that may occur in the future and the likelihood of each. It also illustrates the ground levels of the property and the required minimum habitable floor height. By utilising this tool a buyer, as part of the conveyancing process, can receive valuable information to assist them in making a more informed decision of the flooding risks of the property.
If you’re considering buying a property in a suburb near the Brisbane river visit the Brisbane City Council website. It only takes a few minutes and the report is instantly available for download.
Whilst this report may provide you with a good indication of the flood risks, if you have concerns about the property and its location you should ask your lawyer to undertake further searches during the conveyancing process for more detailed information about the property.