News Corp Australia
First published 12 Mar 2025, 6:00am
A fallen tree lands close to a house on Hedges Avenue, Mermaid Beach. Pics Adam Head
Homebuyers have been urged to check flood maps before signing on the dotted line to avoid landing a property vulnerable to future natural disasters — while bold bargain hunters scour cyclone-damaged homes for a potential discount.
But real estate agents say even the devastating effects of Tropical Cyclone Alfred won’t dampen demand for Gold Coast property.
Glennis Ford, of The Onsite Manager, said the period immediately following a severe weather event was an opportunity for newcomers to the area to “assess where all the flooded areas are, and where the power and telephone reception gets cut off.”
Workers mobilised to clear up in the wake of Tropical Cyclone Alfred
“I would also check access to food and medical services,” she added, noting it was “doubtful” home prices across the broader Gold Coast market would fall.
Online forums, however, revealed locals saw a window for buyers unafraid of tackling repair work on storm-damaged properties.
“I’d scope out homes that are on the flood map for sale now and go check to see if they were flooded,” Natalie Taylor said.
Taylor Powis added: “You may snap up a good bargain if someone has significant damage and can’t afford to replace it. But that also means more work for you to fix it up.
“Something else to consider is insurance on those places will continue to rise as they become more high-risk,” she said.
Buyers’ agent Emma Maynard, of Maynard Property Group, said any market slowdown would be temporary.
“There will likely be a dip in properties that are in flood-prone areas, but to be honest, people have short memories and this dip will only be short-lived,” Ms Maynard said.
“The market is driven by supply and demand…prices will continue to hold strong while our population keeps growing.”
Gold Coast beaches decimated by the wild weather. Picture: Glenn Hampson
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Kollosche managing director Michael Kollosche said it would be “business as usual” for beachfront real estate.
“I haven’t heard of any properties along the beachfront that were significantly damaged,” Mr Kollosche said.
“It’s not the fist time we have seen the beach like it is and there are sea walls and rock walls specifically in place for these sorts of events.
“(In regards to the market) we won’t see a drop as there is still a limited supply of beachfront properties available.”
A Stapylton home surrounded by floodwaters. Picture: Glenn Hampson
Tiger Malan, CEO of Ray White Malan + Co shared a similar view.
“I don’t think sale prices will drop at all, simply growth rate will ease for a period and that’s down to reduced demand — so rather than double digit growth, it might drop to single digit growth, but that’s growth nonetheless,” Mr Malan said.
“Conversely, suburbs that did fare really well, such as Mermaid Beach and Robina, will see increased interest.”
“I think the low lying suburbs that did go under, such as Hope Island, will see some stunted growth in the short term; it’s in people’s faces right at this minute that they’re slightly flood prone so naturally some buyers might retreat from that.”
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