Rents to Rise, Values to Fall as a Consequence of Queensland Floods

RENTS in some parts of Brisbane are expected to soar as residents scramble for limited accommodation in the wake of the recent devastating floods.

Power outages, flood damage and blocked access is driving large-scale relocation, particularly around Brisbane’s west.

Student accommodation provider Urbanest relocated 1210 tenants from a 713-room complex in South Bank, to the Gold Coast, because power was cut from its facility. Urbanest CEO told the AFR he anticipates an influx of international students in about six weeks, and a shortage of housing supply.

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