High values for the higher-set

A Goodna home.
A Goodna home.

HOME owners in flood areas who lift their homes to meet a post-flood planning standard can expect the value of their homes to be higher than those who don't or can't.

An Australian Property Institute report has found house prices have dropped in flood-hit suburbs but that the market "may view more favourably the properties that have been raised to try and mitigate any future flooding events."

These include properties where "the owners have raised the dwelling to the new minimum habitable floor level (to 500mm above the January 2011 flood level) as well as carrying out repairs."

Ipswich councillor Paul Tully pointed to a Goodna home on the corner of Lower James and Norfolk Sts that has been lifted out of the flood level.

"If people can do that, it gives them a high level of flood immunity in most cases," Cr Tully said.

"Most people have had their houses repaired and have gone back in - so the prospects of raising their houses are quite limited. But for those people who do it, the value of their houses will be significantly higher in the short term than other properties."

Topics:  floods house prices paul tully

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