Buyers who risked being called ‘crazy’ to snap up properties in the aftermath of one of Australia’s worst natural disasters have been rewarded seven years later.
House prices have risen dramatically in Brisbane suburbs hit by the devastating floods in 2011.
The floods claimed the lives of at least 35 people in Queensland, and $440 million was spent on the recovery effort.
Analysis by RiskWise Property Research show property prices in flood affected areas have risen at a faster rate than the rest of the city.
Buyers who risked being called ‘crazy’ to snap up properties in a horrific natural disaster zone have been rewarded. The Brisbane suburb of Yeronga, pictured during the floods, has seen growth of 42 per cent

Analysis by Riskwise Property Research showed prices in one suburb doubled and 12 suburbs experienced growth of more than 30 per cent
Prices in one suburb doubled and 12 suburbs experienced growth of more than 30 per cent.
RiskWise CEO Doron Peleg said statistically floods only happen every 50 years making the gamble worth the risk.
‘After the 2011 floods the perception among property buyers was these areas would be looked at negatively and prices would fall, or at least deliver very poor capital growth’ Mr Peleg said in a statement.
‘But our research has shown the reality is completely different and the demand for them has eclipsed the negative perception.

One woman said people thought she was ‘crazy’when she risked buying a property impacted by floods. The suburb of Milton is pictured under water in 2011
‘Also, statistically floods like those in 2011 are a once-in-a-50-year event and that makes these homes a risk people are willing to accept.’
Properties in the suburb of Fig Tree Pocket, impacted by the floods, increased by 52.7 per cent compared to the average of 26.7 per cent.
Four other suburbs – Bulimba, Yeronga, New Farm and Tennyson – experienced property growth of more than 40 per cent.
Mother Ayelen Mazar-Moreira told the ABC people thought she was ‘crazy’ when she took the plunge to buy a $350,000 property in an area impacted by the floods.
‘We weren’t in the housing market until we bought this house, and so for us it was definitely an opportunity to get into the housing market because of the price and the location,’ she told the publication.

The floods claimed the lives of at least 35 people in Brisbane and Queensland, and $440 million was spent on the recovery effort. The suburb of East Brisbane is pictured