Buyers circle flood-prone Brisbane suburb for sub-$1m homes

Add as a preferred source on GoogleOnce shunned by buyers because of its flood-prone reputation, Rocklea is getting a second look as Brisbane’s high inner-city home prices make the suburb increasingly hard to ignore. Just 10km from the CBD, the suburb still has a median house price of $825,000 — and buyers are now coming from as far away as Melbourne and Canberra. This house at 62 Sherwood Rd, Rocklea, recently sold for $900,000. For Dali and Bob Jovanovic, the numbers — and the location — stacked up. The Brisbane couple bought a house on Sherwood Rd after spending about a year searching for an investment property. “I fell in love with the house and the location,” Mrs Jovanovic said. “It was a quick and easy settlement, ready to be listed straight away, we didn’t have to renovate, and we had a preference for it to be close to the city and public transport.” This house at 62 Sherwood Rd, Rocklea, recently sold for $900,000. Importantly, the house had never flooded and was covered by insurance in case of future flooding events. Rocklea is listed among Brisbane’s 50 cheapest suburbs, with a median unit price of just $470,000 alongside its $825,000 house median. Smith & Li agent Jo...