Property market decimated by floods, bracing for Covid
Floods in News South Wales, Queensland and Victoria have halved the property prices of some of the worst-hit areas, while Covid is threatening to wreak more havoc on the real estate market.
Goodna, in Ipswich, Queensland, was one of scores of towns slammed by relentless flooding across eastern Australia. (Image source: Shutterstock.com)
Attention passengers, assume brace position.
That’s not a warning you ever want to hear at 30,000 feet, but when you’re climbing onto the roof of your home to escape floodwaters, faced with loss of property, belongings and potentially your life; you’ll still be grappling for that metaphorical and literal lifejacket.
Tim McKibbin, CEO, Real Estate Institute of NSW (REINSW)
Under normal circumstances that might be your insurance policy.
Rea…
