Suncorp Insurance has released a report identifying the top 10 Brisbane suburbs worst affected by the January floods.
While the report reveals the average cost per suburb of personal insurance claims, many homes across Brisbane are still a long way from removing the scars left by the raging Brisbane river.
Matt Warren reports.
The Suncorp report identifies the 10 Brisbane suburbs that recorded the highest average insurance claims for damge done by the January floods.
Suncorp says it has processed more than 8,200 claims throughout Brisbane, with a total cost of more than $206-million.
The report shows each of the suburbs in the top 10 were along or close to the bends of the Brisbane River.
Marty Weatherhead, Executive Manager Insurance: “Following the processing of the majority of claims we now have a very clear picture of the individual property losses that were experienced. We’ve assessed the average claims costs accross the state and identified Queensland’s hardest hit suburbs.”
With Yeerongpilly topping the list with an aveage claim of over $200,000, the personal cost for families still waiting for their insurance payments is difficult to measure.
Fig Tree Pocket, Rocklea and Chelma are all in the top five suburbs with the greatest average claims.
Residents still have vivid memories of a how close the river came to destroying their homes.
Fairfield resident: “Probably about this high.”
In Fairfield, real estate agencies say property values have dropped significantly since the floods.
Sharon Wilson, REMAX Fairfield: “People may want to buy the property, but if it has been flood affected, the banks will not lend against it at the same ratio as they would against a non-flood affected property. So in effect what you’re doing is you have to have at least 40 per cent deposit.”
While Suncorp and other insurers are still processing claims, rebuilding hasn’t even started at many properties in some of the worst hit suburbs.
The houses remain as they were when the floodwaters receded.
Matt Warren, QUT News.