Severe flooding puts the Queensland property market on a slippery slope

LUXURY PROPERTY PRICES in Queensland have plummeted by over 50%, one of the biggest drops in the global market.

Despite being Australia’s fastest growing city Brisbane has seen the price of properties drop by an average of 42% after another year of January flooding.

Heavily hit suburb Ipswich and luxury estates North Booval and Gold Coast saw the biggest drop in the country with prices reduced by 46%-51% on 2010. Continue reading