REIQ says worst possible time for floods as ‘four Sydney Harbours’ rain down

The Real Estate Institute of Queensland has said the floods that are ravaging the state, as well as New South Wales, could not have come at worse time for property owners and the sector as a whole.

Authorities estimate that the equivalent of more than four Sydney Harbours have been dumped on just two dam catchment areas in southeast Queensland since the first rains hit over a week ago. The volume of water that has inundated the entire two-state …