CoreLogic’s head of research, Eliza Owen, has published a report analysing whether Brisbane’s floods are likely to halt the property market. Owen’s analysis focuses on the aftermath of the 2011 floods, which seemed to contribute to the downturn in property values experienced at the time:
Following the Brisbane floods in 2011, the city’s dwelling values sustained a decline from January 2011 to January 2012, which bottomed out at -6.1% (figure 1). This decline kicked into recovery mode off the back of several cash rate reductions from November 2011.
However, it was not until March 2014 that the dwelling market fully recovered the value recorded in December 2010.
The full text of this article is available to MacroBusiness subscribers
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
