March has already made for quite the interesting month, with ex-tropical Cyclone Alfred making his presence known throughout the Gold Coast.
With the majority of the coast feeling the impacts, including power outages, limited internet access, trees down and property damage, one of the big questions asked is "will this affect the value of property on the Gold Coast?"
Propertyology head of research Simon Pressley said the latest natural disaster would have “zero material impact on property market performance”.
“Supply will continue to be incredibly tight,” Mr Pressley said. “The volume of properties for sale in Hervey Bay, Maryborough, Sunshine Coast, Gold Coast and Brisbane is already at or very near record lows.
“The expected total volume of homes that have experienced major damage is akin to a speck of flour on a baker’s bench. It’s not as if a week of horrible weather forces thousands of people to tip their lives upside down and sell their homes.”
Mr Pressley said those who were unfortunate enough to suffer significant damage to their homes were likely to lodge insurance claims and trigger a “flurry of more work for the already super busy construction sector”.
“Humans are not particularly good at separating their emotional reaction to unpleasant events and appreciating the various major considerations regarding the buying and selling of homes,” he said.
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