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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The Reject Shop and API Have Major Ipswich Distribution Centres Flooded

THE Reject Shop and Australian Pharmaceutical Industries have been forced to close major Queensland distribution centres, because flood waters have engulfed their facilities.

The Reject Shop put a trading halt on its shares earlier this week, saying it needed a couple of days to assess damage at its six-month old Ipswich distribution centre.

The $16 million warehouse distributes to 90 of The Reject Shops 211 stores, nationally. When it opened last year, managing director described the complex as the “cornerstone” of that group’s investment in Queensland.

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