First flood-hit home for auction
A HOME believed to be Warwick’s first flood-affected property placed on the market since water swamped parts of the town will go under the hammer next weekend.
From one of the hardest-hit parts of the Rose City, 3 Pratten St is up for grabs and the outcome of the auction could set a benchmark for other flood-affected properties in the area.
Remax property marketing specialist Darryl Evans said affected properties in Brisbane had expected to see a 40-50 % drop in price after the floods but the final result was only around 10-15%.
He said there was no way to predict the outcome of next week’s auction and he was expecting a lot of interested people to be watching in anticipation.
“If there were 300 people affected by the floods, this auction will affect all of the other 299,” he said.
Mr Evans said there had been more than 30 years between major floods when the town was hit in December and January and it might be another 30 before new owners would have to deal with them again.
He said savvy buyers could use money saved on buying the property to raise it up and prevent the risk of future flood damage.
McCahon and Co sales consultant John Eyears has sold property for the past 33 years and began working in the area just after the 1976 floods.
He said the impact of the floods was likely to take a while to ease, as people began to regain confidence in the market. He said after the 1976 floods that took around two years.
3 Pratten St will be auctioned off on Saturday, April, 16 on-site.
INSIDE TODAY: Our 20-page Domain real estate liftout – your guide to finding your dream home.