Rocklea family more than doubles home’s value after radical flood-proof lift

A Rocklea family has turned a recurring natural disaster into a massive payday in the flood-prone suburb named among the city’s most undervalued markets.The owners of a modest three-bedroom weatherboard house at 15 Corella St opted for a radical solution after floodwaters twice devastated their property.Drastic: The house raised 6m in the airTheir strategy paid off when the home, which sold for $370,000 five years ago, recently changed hands for $840,000 — more than doubling in value after its extraordinary 6m lift above the flood plain.Before: 15 Corella St, Rocklea before it was raisedRocklea’s median house price of $827,000 sits $204,000 below immediate neighbours, according to Suburb Trends data. Local agents say that disparity results from the flood risk, with Rocklea among areas worst affected by the inundations in 2011 and 2022.The towering renovation turned the property into a viral sensation, with photos of the home’s dizzying front staircase drawing hundreds of reactions on social media.“Tell me it’s built on a flood plain without telling me it’s built on a flood plain”, quipped one commenter.Despite the daily climb required to reach the front door, the property also spar...