Queensland’s property market has taken a tumble in the wake of the flood disaster.
According to the latest auction results from Australian Property Monitors, clearances rates in the state sunk to just 10 per cent last weekend.
However, the news wasn’t all bad, with Ray White Surfers Paradise clearing 50 per cent of its listed stock.
In addition, it seems there are plenty of bargains to be had – provided you have a few million dollars lying around.
A Gold Coast night club owner, Jamie Pickering, paid $2.5 million for a luxurious penthouse apartment in the Circle on Cavil building over the weekend – $3.45 million less than the asking price.