Why did the 2010 11 Queensland floods happen?

The main reason why the 2010-2011 floods happened in Queensland was, quite simply, because of the unusual amount of rain.

Australia spends many years in drought, often caused by the El Niño effect. When an El Niño occurs, changes in sea surface temperatures cause a shift in air pressure which, in turn, can result in climatic anomalies, such as severe droughts in Australia. These years are punctuated by years of normal rainfall, but occasionally, Australia gets the opposite to an El Niño, which is La Niña. This means that weather conditions, etc, are in reverse to those seen during El Niño, and Australia experiences far more rain than usual.

Australia had been coming out of an El Niño for some time, which means that many parts of Australia had seen gradually increasing rainfall. The rainfall recorded in September 2010 made it Australia's wettest month overall in 110 years. Queensland already experienced flooding in early 2009 (at the same time that southern Australia had the terrible Black Saturday bushfires), and higher than normal rainfall in 2010, increasing towards the end of the year. By then, the ground was simply too saturated to hold any more water. Add to that the effects of the cyclone which crossed the north Queensland coast at Christmas time, bringing excessive rainfall to north and central Queensland, and the ground was waterlogged. (A similar pattern led to the Brisbane floods of 1974.)

Radar images show how large the cyclone system was, even though it was only a category one cyclone, the lowest grade. Low wind speeds do not necessarily mean low rainfall, and in this case the cyclone brought large amounts of rainfall right along the coast. Some of the water runoff from the north flowed down through the inland river system; some of the rainfall fell into the catchment areas of coastal rivers further south. The rivers broke their banks more easily, and there was nowhere for the excess water to go.