Flood-safe homes prices rise

HOME vendors have been accused of greed for adding up to $30,000 to the price of their properties because they are not in a flood zone.

Ipswich real estate agents say they are shocked some sellers would try to profit from the floods.

The agents also said opportunistic buyers were aiming to take advantage of people's misery by buying up homes on the cheap.

Peter Mendoza, the Real Estate Institute of Queensland Ipswich zone chairman, said profiteering was a sad reality of the property market.

“People are just being greedy trying to whack $10,000, $20,000 or even $30,000 on top of the price of their property,” Mr Mendoza said. “We see a fair bit of that. It's just greed and it's not nice. I can't see how someone can do that.

“There is a small minority that get away with it; most people end up having to sell for what it was worth in the first place.

“The property ends up sitting there and buyers start thinking there must be something wrong with it. They've paid all that money in advertising so they shoot themselves in the foot.”

Ipswich real estate agent Darren Boettcher said he had seen a number of similar cases.

“I had a lady ring about that this morning,” Mr Boettcher said yesterday. “I don't believe in high-balling.”

Even worse, he said, was cases of people wanting to buy flood- affected properties while owners were at their most desperate.

“People taking advantage of people who have to sell – that's what I call greedy,” he said.

“I've taken calls from people who say they want to buy up properties and they don't want to pay much money.”

Mr Mendoza said if the 1974 floods were any guide, it could be 10 or 20 years before property buyers got the 2011 floods out of their minds.

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