Property

Data collectors say flood levee would see values will rise

A FLOOD levee bank could do two things to low socio-economic suburb Depot Hill: protect it from flooding and increase the value of its houses.

"I'm talking about somewhere between $16,000 and $32,000," said CQUniversity economics professor John Rolfe, who claimed his new findings could close the house value gap between Depot Hill and Wandal.

Mr Rolfe's associate professor Garrick Small has been collecting property data for the Rockhampton area between Wandal and Depot Hill.

The data covers the years from 1974 to 2011, the year 9.2m floods swamped Central Queensland and cut off access to Rockhampton from Brisbane.

Mr Rolfe has then analysed the data and teased out whether there were big differences in price according to where the properties were.

He said the property values in flood-prone areas were much lower than other suburbs, but that included several factors like the quality of the houses.

Median prices

As of the beginning of 2014, the median price of a house in Wandal was $299,000.

From the beginning of the year, the median price of a Depot Hill house was $167,000.

"We think that about $33,000 of lower-priced houses is because of the flood risk," he said.

"If you can take away that flood risk, you've got a chance of properties going up by that value ... that's quite simply one of the economic benefits of a flood levee bank in Depot Hill."

Mr Rolfe said in 1974 the price gap between houses in Depot Hill and Wandal was about $2000.

He said the median house price in both suburbs was a lot lower in 1974.

At a property conference at CQUniversity last week, Mr Rolfe was unable to say what the median house prices were for Wandal and Depot Hill in 1974.

Mr Rolfe said he wanted to do the study to show the economic impacts from flooding.

Topics:  cquniversity, depot hill, flood levee, john rolfe



Clive puts road before ramp

BITUMEN ROAD: Clive King wants the road to the Coorooman Creek boat ramp fixed before any further upgrades are made.

THE upgraded Coorooman Creek boat ramp has become a popular spot.

Suicide rate reaches 10-year high

Eight people per day last year took their own life

Helicopter flies to CQ property after girl has accident

One of the RACQ

Girl sustains injury while mounting horse

Local Partners

Katy Perry gets naked to encourage people to vote

Katy Perry in Funny Or Die sketch

Katy Perry has stripped naked for a comedy video

Jogging Tom Hanks crashes wedding in Central Park

Tom Hanks stopped for a selfie with this bride and groom

MOVIE REVIEW: Storks delivers family fun

A scene from the movie Storks.

ANIMATION can be hit or miss but when it hits, it hits hard.

Nick 'the snake' to call the shots on Survivor jury

Australian Survivor contestant Nick Iadanza.

LATEST evictee is out of the game but will still have a say.

Naomi Watts and Liev Schreiber split

Naomi Watts and Liev Schreiber

Naomi Watts and Liev Schreiber have split after 11 years together.

Why Chris Hemsworth was spotted wearing nail polish

RED CARPET: Do you think Chris Hemsworth is the typical unpolished but well-natured Aussie bloke?

He's now officially the best bloke in Australia

$40million hotel, shops development project for Mackay

Mt Pleasant hotel and retirement accommodation, proposed at 194-202 Malcomson St.

$40m development to take Mackay to 'the next level'

Projects hoped to revive Rockhampton real estate

There have been just over 800 house sales in Rockhampton this year

Property 200m from ocean selling for just over $100K

BEACHCOMBER PARK: Work has started on a new $19.2 million development at Toogoom.

The estate's developer is offering huge discounts for early buyers.

UPDATE: Former rodeo champ's sale rained out, now back on

Larkhill local Ken Consiglio is having an auction of most of the things on his property.

'People kept showing up and we had to turn them away'

First stages of $25 million housing development underway

New development on Madsen Rd - The Springs.

The blocks of land are much bigger than usual

14% of renovators doing own electrical work?

Landscaping (46%), demolition (43%) and interior design (77%) are also often tackled head on by plucky homeowners.

And 12% said they did their own plumbing work