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Community forum tackles post-flood real estate market

More than 50 Townsville residents attended a community forum on the Townsville property market post-2019 floods, hosted by local sales specialist Michele Hyde, from RE/MAX Excellence and Brisbane real estate business owner and agent Martin Hood.

The free information event was organised to help residents deal with what has been happening in real estate since the February floods, which left well over 3000 homes with damage, and what it may mean to them.

Ms Hyde praised Mr Hood for his involvement, stating that he was the true initiator of the event.

“Martin contacted me while news of the flooding was still rolling out. He’s been through similar in Brisbane in 2011 and had held a post-flood community forum there.

“Since the floods, many property owners are asking the big questions of “What do we do now?” and ‘What’s my property worth?’ and Martin has been able to give them a great insight through his own experiences,” she said.

Mr Hood, who owns RE/MAX Riverside, with offices in the Brisbane suburbs of Graceville and Seventeen Mile Rocks, was a key speaker at the Townsville forum, along with Joe Panzera from iLend Finance and Alex Dickinson from Opteon Valuers.

Mr Hood gave first-hand accounts of homes on the market flooding and how approaches to the marketing of those properties changed; and of sellers who were motivated to stay and build up.

“The thing to remember is that all the many reasons for people buying or renting in Townsville remain – the diverse range of work and study options, affordability for families, excellent schools, shops and restaurants, beaches and parkland, transport and medical facilities. These have not changed in any way; and people will continue to buy and rent here.”

According to Mr Hood, eight years on, values of flooded Brisbane properties had risen to levels above pre-2011 flood values. Most areas of Brisbane increased in value within five years.

“If we use Brisbane’s experience as a guide, the Townsville market is likely to return relatively quickly to preflood conditions.

Ms Hyde agreed that the future looked bright for Townsville.

“The Townsville flood event, though tragic for so many, mirrored Brisbane in that only pockets of the city were affected. There’s still a lot to be positive about in the Townsville property market,” she said.

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