Will the floods have a long-term downward effect on the market?

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Whatever the fallout from the recent floods that primarily hit Queensland, but also affected other states, and the initial impact on the Australian economy, there’s unlikely to be a long-term detrimental effect on real estate prices – even for those homes sitting in some of the worst flood hit areas.

The recovery after the Brisbane floods in 1974 bears remarkable similarity to the recent deluge and outlines yet again the unique resilience and ability of Australians to overcome disaster, pull together, and rebuild. As residents living in Goodna at the time recalled: “Nobody forced you to take in another family, everyone just did it. Hundreds of millions of dollars was raised throughout Australia.”

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