As a resident of Brisbane, I witnessed the recent devastation caused by the largest flood event we have seen since 1974 firsthand. Working in the property industry on a daily basis, I have had countless people ask me what will happen to the residential property market as the flood waters recede and the massive task of cleaning, repairing and rebuilding is undertaken.
BY GEORGE KAFANTARIS
For those homeowners and investors who do have a property that’s been flood damaged, one of the first things you should look into is your insurance policy. Unfortunately, some companies will not insure against floods, so check your policy carefully and if in doubt, call their helpline. As an investor, check that you have adequate landlord insurance for loss of rent. Read more →