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Water to drive up property prices
4 Feb 2008
While floods in Queensland and the north of NSW have caused many millions of dollars in damage the water will be better news for property prices. Valuer at Herron Todd White, Kerry Herron, said that while the damage could bring property values down by 5 per cent in the short term, in the longer term property values could improve by as much as 50 per cent. "If you get into cotton areas the value of the water can exceed the value of the land itself," he said.
The Australian Financial Review, 4/2/2008
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