A rough start for many Australians

For many Australians, 2011 has got off to a very challenging start.

Queensland has been hit the hardest, but some parts of northern Western Australia, New South Wales and Victoria have also been dealing with devastating floods. I’d like to begin by first acknowledging those who have been impacted by these natural disasters, our thoughts are with you all.

As well as the dreadful human toll these floods have taken, the damage is well into the billions of dollars and there is no doubt this will impact the country economically. Considering this new financial load, I do think the RBA may choose to hold interest rates when they meet in February.

Being a member of the property industry I can’t help but think about what this means particularly for Queensland’s property market and those agencies who operate in devastated areas. There are so many issues to weigh up, so many homes and properties have been damaged, some even swept away or completely destroyed. Will people want to live by these water courses anymore? Also from a property management perspective, how will agencies deal with all this devastation, what does it mean for leases and tenants etc? What about those who have lost their livelihoods, how will the banks be managing defaults due to the damage?

The answers to all of this will surface over coming weeks and months as QLD and other affected areas continue the long and arduous task of cleaning up. While the initial impact of these disasters always makes the news, it is often the ongoing recovery we don’t see and that in itself can be a long and scary battle.

However, Australians (no matter which state they may reside) always seem to shine when things like this happen and there has been many an inspiring story to accompany the chaos around the country. Something good to take from some really tough times I guess.

To donate to the Queensland Flood Appeal visit

www.qld.gov.au/floods/donate