What a difference a week makes !
A week ago the residents of Queensland, northern New South Wales and parts of Victoria thought that floods were something that happened to other people - until the opening month of 2011 delivered a deluge of almost biblical proportions.
Now they must live with two massive problems. The need to restore the damage done to their homes - and the probable reduction in the capital value of their greatest asset.
It follows that buyers will be wary of property that has suffered flooding and will be more likely to make a purchase above this years flood line.
A lot will depend on how the cause of this flood is viewed. Many believe that it was caused by global warming and that unless the Co2 in the air is reduced we can expect more similar events. Others cite a change from an " El Nino " to a " La Nina " weather pattern in the Pacific ocean - and if that is right it is simply a " once in a hundred years " event.
There will certainly be consequences in the way this flood is treated by the building industry. We can expect a surge in companies offering to elevate existing homes to make them flood free - particularly those that suffered damage from a mere metre of water - or less.
And we can say goodbye to a lot of unemployed people as labour demand peaks as the recovery gets under way - but that also means a shortage of trades in other flood free cities and towns - as the skilled work force responds to the coming work bonanza.
As that old saying goes - One man's feast is another mans famine !
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