Brisbane Flood May Boost Housing Market in Long Term

Brisbane may have increased home sales and construction this year once the cleanup of Australia’s third-biggest city begins after the worst floods since 1974, economists at Citigroup Inc. and JPMorgan Chase & Co. said.

“We could see an increase in activity, once the total damage assessment is made,” Josh Williamson, senior economist at Citigroup in Sydney, said in a telephone interview yesterday. “There could be a big spike in housing market activity.”