Quartz Apartments stand high and dry in 2011 Floods

With Brisbane experiencing its worst natural disaster in 37 years and many premier residential riverside communities suffering severe flooding, Quartz Apartments at Bulimba remained unaffected by the surging waters.

Despite the devastating conditions during the first weeks of January, the basements at Quartz were completely dry and the buildings remained fully waterproof. Water did not rise anywhere within the property’s road frontage to Addison Avenue and water levels would have needed to rise another three metres to have had any effect on the ground floor apartments.

Property values after the floods

The floods themselves have undeniably raised questions for many investors or potential property buyers, keen to determine the impact of the event on property values.

Recent survey outcomes obtained from the research division of property market leaders Place, indicate that “Brisbane real estate will, in the short term become a market classified as being flood affected or non-flood affected property.”

The summary from this research stated “despite the floods, expect Brisbane Riverfront homes to hold their values, particularly in the Eastern suburbs which were relatively unaffected.”

Local property specialist Caitlin Holmes recently purchased a ground floor Quartz apartment off the plan and says, “I wouldn’t have done so if I had any concerns about flooding.”

Having commenced sales in the Bulimba area ten years ago, Caitlin initially worked from a site office alongside the river. In this previously industrial locale, she would frequently speak with locals who came to view the site, many of whom had in fact lived in Bulimba during the 1974 floods.

On a number of occasions visitors recalled how they had congregated on the banks of the river beneath a large pine tree (then still located on the site) and watched the floods - unaffected by the water.

With Quartz being the third project she has worked on with Jadecorp, Caitlin Holmes described her “utmost confidence in the company as a quality builder”, noting the beautiful design and finishes on all Jadecorp apartments.

Jadecorp spokesperson Maria Dracakis says, “Buyers will be thrilled with the high quality end product at Quartz Apartments”, adding, “At Jadecorp we only build a product we would live in ourselves.”