Fig Tree Pocket House Prices Continue to Grow, Defies Post-Flood Expectations

Biami Yumba Park, Fig Tree Pocket (Photo credit: www.brisparks.com.au)

The 2011 floods devastated many suburbs in the city of Brisbane, but suburbs such as Fig Tree Pocket are still seeing high property price growth despite the unfortunate event.

Data from RiskWise Property Research shows that 95% of the adversely affected Brisbane suburbs during the 2011 floods registered strong 5-year price growth.

Fig Tree Pocket is on top of the list with a recorded 52.7% 5-year price growth.

According to the RiskWise CEO Dolon Peleg, the demand for these properties proves a counterbalance to the 2011 floods and that people are willing to take that risk. He also said that there should be no cause for alarm because insurance companies have changed their product offering and premiums.

Mr Peleg believes that the research helps disprove the notion that these once-flooded areas will suffer poor capital growth and will gain negative buyer reaction. The price growth is boosted by the excellent location of the properties, most of which are on highly sought riverside areas.

Here is the list of the top 10 Brisbane suburbs that have bounced back well in terms of property prices from the recent 2011 tragedy:

Rank Suburb 5-Year Price Growth
1. Fig Tree Pocket 52.7%
2. Yeronga 42.4%
3. New Farm 40.5%
4. Tennyson 40%
5. Indooroopilly 39.8%
6. Windsor 38.8%
7. Hamilton 35.7%
8. Norman Park 34.8 %
9. Corinda 34.7%
10. Auchenflower 31.5%

Source: Riskwise Property Research

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