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REIA offers support to owners of flood-hit property

Support has been offered to those who own flood-hit Australian property in Queensland by the Real Estate Institute of Australia.

The Real Estate Institute of Australia (REIA) has offered support to those who own Australian property in the flood-hit areas of Queensland.

David Airey, president at the REIA, said his thoughts particularly go out to members of the real estate profession who have lost their homes and businesses.

"We understand there has been a great deal of loss in the real estate community," he said.

Mr Airey went on to say that the Real Estate Institute of Queensland has advised that 30 of its accredited agencies had suffered "significant inundation from floodwaters".

An agency in Goodna, for example, lost 160 of its managed rental properties in the floods.

"It is likely that at least 25,000 homes have been significantly damaged and at a bare minimum will require complete internal refitting," Mr Airey said.

Earlier this week, Bridget Carter wrote in the Australian newspaper that rental rates in Brisbane will soar over the coming weeks as the owners of flood damaged homes seek temporary accommodation.

Posted by Steve Douglas

- flood, REIA, rent, property, support

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