Most property experts said yesterday that it was too early to estimate the exact effect on prices, but all agreed there would be a negative impact on values.
"The immediate impact is going to be that houses which have been impacted directly by the floods that require repairs will likely be taken off the market," Mr Christopher said.
"The floods are going to remind buyers of the risks of buying near the floodplains. There is the risk some of the most prestige areas are going to take a hit because buyers are aware of the risks now of buying there."
Some of the most affluent suburbs in Brisbane -- New Farm, West End, St Lucia, Indooroopilly, Graceville and Chelmer -- have been the most severely affected by the floodwaters. Residex managing director John Edwards said the higher-priced areas would suffer a greater price hit compared with flooded suburbs in Brisbane's outer west and close to Ipswich.
"I think we are going to find that the big pricing adjustments will be the higher-cost areas that are along the river's edge," he said.