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

UPDATE: Missing Rockhampton boy reunited with family

Police seek assistance to find boy

Suicide prevention workshop gives hope

SUICIDE PREVENTION: The 19 participants who attended the ASIST two-day workshop.

Workshop provides infomation and understanding in suicide prevention

Violent past comes back to haunt young man

Rockhampton Court. Photo: Chris Ison / The Morning Bulletin

He dragged his partner around the floor by her hair

Local Partners

$2000 raised for SES at morning tea

UP to 150 people attended a morning tea at the Heritage Village in aid of the Rockhampton SES hosted by the Rockhampton and District Benefits Association.

Your chance to win

Learn More

Former Split Enz front man Tim Finn finds new niche

Singer Tim Finn has written the music for theatre production Ladies in Black.

Musician finds his way to theatre

WHAT'S ON: Your guide to entertainment and events this weekend

AWARD WINNING SHOW: Tequila Mockingbird can be seen at St Brednan's College, Yeppoon on Saturday.

LOOKING for something to do this weekend?

Garage Sale Trail finds treasure in trash

Richard Morvell from Trendy Trash Rockhampton, Cr Neil Fisher, and Craig Dunglison, Manager of Rockhampton Regional Waste and Recycling gear up for Garage Sale Trail.

Bargains galore on offer at garage sales this weekend

Top floor teams take out The Block's terrace week

Kim and Chris pictured on their winning outdoor terrace in a scene from The Block.

RIVALS Kim and Chris and Julia and Sasha tie in final week of work.

Bob Dylan slammed as 'arrogant' for Nobel silence

Nobel Prize winner Bob Dylan.

Singer the controversial winner of literature Nobel

Shannen Doherty reveals fear of dying in post on chemo

Actor Shannen Doherty shared this image of her lying in a hospital bed after a chemotherapy session.

Actor has been fighting cancer since 2015

Eddie Redmayne's stage fright on latest Harry Potter film

Actor Eddie Redmayne stars in Fantastic Beasts and Where to Find Them.

Actor felt like kid again when he got to film with a wand

Salma Hayek: 'Trump planted story because I turned him down'

Actor Salma Hayek is the latest woman who says U.S presidential nominee Donald Trump acted inappropriately.

Salma Hayek latest woman to accuse Trump of misconduct

Brisbane snake catcher shows who's the Boss

Brisbane snake catcher Julia Baker returns in season two of Snake Boss.

Hit show Snake Boss is back for another season

Hit songwriter's Noosa mansion on market

SPECIAL PLACE: The Cintamani estate is going to tender, marketed by Tom Offermann Real Estate.

Is this Queensland's best property?

Kiwi siblings snap up Dotcom mansion for $32.5m

The new toy company owners of the Coatesville mansion want replace any controversy with positivity and fun. Photo / Barfoot and Thompson

The trio paid $32.5 million for the property in June

New $200 million development will create 580 jobs

Cassie And Josh with baby Alfie and daughter Andee. They have bought at new Lennox Head development Epiq.

Majority of new positions will be given to Northern Rivers locals

Cherrabah's mega resort plans axed

PLANS for a massive development at Cherrabah have been scrapped.

What our mayor thinks of the new draft SEQPlan

The plan to use the innovative technology as part of the new Maroochydore CBD was cemented on site today when Mayor Mark Jamieson and Envac Asia Region president Chun Yong Ha formally signed the contract for the $20 million underground waste collection system.

New plan accommodates Sunshine Coast Council's vision for growth.

Dusit Thani finance crisis 'just a small hiccup'

ON TRACK: Springfield Land Chairman, Maha Sinnathamby, Ipswich Mayor Paul Pisasale, Developer Richard Turner and Springfield Land Deputy Chairman, Bob Sharpless, at the recent resort sod turning ceremony.

Property developer says project remains firmly on track