09 September 2011

Flood-affected property prices on the way up after highly-successful auction at Goodna

The house in Lower William St Goodna which sold for $226,000 at Ray White's Goodna auction.

Ipswich's flood-affected property prices are set to make a dramatic move back to pre-flood figures after a successful auction at Goodna.

A flood-ravaged home in Lower William Street has sold for $226,000 which was $41,000 above the reserve price.

It was marketed by Ray White Goodna.

The home which is on 3035 square metres has not been restored since the flood and the new owners plan to fully renovate the building.

The property is located between Woogaroo Street and Brisbane Terrace in one of the hardest hit parts of the suburb where floodwaters went over the the roof of the house on January 11.

Local Councillor Paul Tully described the sale as "good news for Goodna and Ipswich".

"This property has not been restored since the flood eight months ago, so the market for renovated properties is obviously much higher and closer to pre-flood prices."

Cr Tully said Doomsday forecasters had predicted a massive property slump for years following the flood which devastated thousands of properties in Ipswich and Brisbane.

"There is still a fair way to go but cashed-up buyers are injecting fresh confidence in the local property market which is fantastic for those people selling their flood-damaged properties.

"This latest auction is a confidence boost for the property market in the flood affected areas of Brisbane and Ipswich," Cr Tully said.

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