dry brissy:water and property values

Most of the property doomsayers on this forum like to attribute a possible property price collapse to stupid people and interest rates. They never seem to consider the bleeding f****** obvious, such as supply/demand fundamentals like population growth. I liken it to a group sitting in a circle discussing the terrible smell. Each has a view on the cause of the smell, but nobody guesses that it might just be the pile of rotten fish in front of him.

Water supply is another potential snag for maintaining high property values, and by some of the comments made recently, some are very worried about keeping the cardboard and staple shitbox sideshow chugging along.

Billy

http://www.thecouriermail.news.com.au/printpage/0,5942,15021599,00.html

Shortage of water may be far worse
Chris Griffith, City Hall reporter
20apr05

SOUTHEAST Queensland might be facing a more severe water shortage than forecast as about a quarter of the water in the region's three main dams could be undrinkable.


This warning came yesterday from Brisbane City Council's water chief John Campbell.

In another development yesterday, representatives of southeast Queensland councils struck an agreement to increase the trigger for water restrictions from 36 per cent to 40 per cent average dam capacity.

The figure, if ratified by councils, will see southeast Queensland including Brisbane facing stage-one water restrictions next month without significant rain.

Without rain, restrictions are imminent because the average capacity of Wivenhoe, Somerset, and North Pine dams is currently just 41.5 per cent and decreasing at just under 0.5 per cent per week.

Cr Campbell said the amount of undrinkable water represented 25 per cent of the city's remaining water supply.

He berated the South East Queensland Water Company authority for factoring in only 1 per cent "dead storage" when estimating current capacity.

He said he had calculated Brisbane had 18 months to 2¼ years of water left instead of the forecast two to three years. Other mainland capitals assumed that up to 27 per cent of water capacity would be undrinkable.

"Even Sydney, which has the most optimistic view of dead storage of other capitals, factors in 10 per cent," he said. "Using that figure, we should already be under the first stage of restrictions and be preparing to move to stage two."

In spite of recent rain and drizzle, the average capacity of the three dams has dropped from 43.4 per cent to 41.5 per cent in three weeks.

Cr Campbell said water was being consumed at a rate of more than half a per cent of capacity a week.

"You don't need to be a rocket scientist to work out that we are now in the grip of a drought that does not look like easing soon," he said.

SEQWCO chairman Bob Grice said the dead storage levels in Sydney or elsewhere were "not relevant" and 1 per cent was the correct figure for the three southeast Queensland dams.

SEQWater and councils yesterday reached agreement on a regional drought strategy to implement water restrictions uniformly.

Stage one restrictions equate to a massive media campaign telling people how to save water and warning severe restrictions are inevitable if consumption levels did not drop dramatically.





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