‘Vulture’: Property investor eyeing cyclone Alfred hit zone trolled

In green is the likely scenario for flooding on the Gold Coast off cyclone Alfred issued by the Gold Coast City Council this week..

Cyclone Alfred hasn’t made landfall on the Aussie coast yet but that hasn’t stopped property investors asking where they can cash in – and getting trolled for it.

It’s no secret that despite record prices since the pandemic and a history-making once-in-a-generation cyclone set to hit South East Queensland, investors continue to see the entire region as one of the hottest prospects to get the best return on their dollar.

But even investors, it seems, have limits on what they will tolerate when communities are in trouble.

Aussie insurers’ sick move as cyclone nears

investor interest in what happens to the Queensland property market after Alfred is high.

Gold Coast residents were still putting together sandbags in Paradise Point on Thursday. Picture: NewsWire/Tertius Pickard

A prominent private investor group with over 70,000 members saw one of their top contributors seek out advice on how the market is looking in the “flooded zones”.

There were some responses to “check your insurance”, but the overwhelming vibe was disbelief.

“Honestly just wait until this time next week you’ll be in luck,” was one response, but others were not so tolerant saying I “see some stupid posts in this group this one definitely up there”.

The top contributor’s previous hope for price falls in Brisbane due to flooding were resurfaced, where his view was falls in flooded riverside suburbs would make it “party time” for those that don’t in Brisbane.

“Hoping your prior prediction comes true? Keep praying!” a member on the Facebook group site said.

“Nah prices are still strong, keep ya wishing. Vulture.”

He was also hit with the ultimate insult for real world investors: “You sound like a crypto investor!”

MORE: Terrifying detail in Aussie cyclone’s path

Cyclone to smash homes of rich and famous

Thursday morning’s cyclone track map.

The scene at 7 Mile Beach at Lennox Head as the community braces ahead of the Cat 2 TC Cyclone Alfred’s arrival this week. Picture: NewsWire / Glenn Campbell

Some turned to ridicule: “Think proactive – apply for a pontoon license & put the property up for sale. Water view as far as the eye can see. Comes with DA for Clive Palmers yacht”.

Others retreated to sarcasm: “I would like to save the tax deductible $25 a week so I can be a multi millionaire investor. Just thought this was the dumb question thread”.

But reality set in when a Gold Coast resident and fellow property investor chimed in from the region that’s set to face the worst effects when Alfred makes landfall.

It “hasn’t even happened yet,” she said. “Give us a minute to actually make sure our own houses, families and pets are safe”.

“Thanks for caring. ITS ABOUT TO HIT ME, I’m on the Gold Coast and Brisbane border”.

MORE: Surprise move amid insurance blackouts for home buyers

Most south east Queensand residents have never experienced a cyclone at home before. Picture: NewsWire/Tertius Pickard

There is no expectation that the history-making cyclone will dent the massive demand that exists and will continue to exist for Aussie suburbs within the cyclone warning zone stretching from Noosa in the north to past Byron Bay in the south.

“This is Australia, everything is out to kill us. The fear will soon pass,” a local investor said.

Another directed the investor to a different business segment, saying “the market for selling water & toilet paper in Brisbane right now is on fire”.

Brisbane and Gold Coast were considered top locations for investors, though price rises mean cash flow is not as good as it may have been in the past, was the view of the investor group administrator before the cyclone appeared.

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