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Posted: 2023-06-28 08:38:16

Flooded South Australian properties are hitting the market as owners struggle to face the prospect of rebuilding. 

Nathan Case had just finished renovating his shack on the banks of the Murray River in Blanchetown when the floodwaters started creeping up.

"Downstairs was absolutely ruined, the gyprock had fallen off and the mould in the rooms that were closed up was unbelievable," he said.

Having owned the property since 2019, Mr Case made the decision to sell it for around half of what it was worth before the flood hit in late 2022.

"We don't have the time for the 12, 18 or maybe even 24 months to have it repaired and restored to the way it was before," he said.

"We looked into demolishing the property, but you're looking at three or four years."

Nathan Case says holding onto the property came with too much uncertainty.()

Mr Case said beyond the time constraints, he was concerned about rebuilding or repairing when another flood could destroy it again.

"It was so stressful, those six months from when it was going to flood to when we actually sold the property, we've never been that engrossed in something in our lives," he said. 

"The fact it could happen this year, it could happen next year — you just don't know. We just couldn't go through that again."

The River Murray flood event earlier this year inundated thousands of properties in the Riverland and Murraylands.()

BH Partners proprietor Melissa Muster said the property management service was still seeing flood impacted properties being added to the market with continued interest from prospective buyers. 

"[The real estate market] is still very strong in the region," she said. 

"People interested in properties by the river are particularly interested in location and being by the water." 

University of Newcastle associate professor of architecture and built environment Iftekhar Ahmed said the trend of selling properties was not something he had seen until recent years.

Iftekhar Ahmed says in the past, people tended to repair flood-affected homes.()

"Most people go back and try to rebuild it, but the floods we have been having recently in eastern and southern Australia, they're unprecedented," he said.

"People would think ... we can do some basic clean-up and go back, but this year, places like Lismore and Northern Rivers, they're massive floods."

Dr Ahmed said many of these flooded areas could be considered untenable.

"People may have to consider moving out if the area is too severe, and if it doesn't make sense in the long term," he said.

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