Out Of The Ashes
It’s been a challenging time for our nation. Many of our members are on the ground servicing bushfire-affected areas. They are working day and night finding accommodation, volunteering and helping to rebuild communities. For some of our members, they have lived through a similar scenario.
Simon McGuire from the Independent Property Group lived through the catastrophic bushfires in Canberra in 2003. He says, “Our thoughts go out to anyone affected and impacted. The devastation has been unprecedented, so hang in there, please. It’s a difficult time, but Australians always get through these tough times, and I expect we will again. It’s easily one of the worst natural disasters Australia has ever seen, but the great thing is we’re going to apply Australian spirit to it, and we’re going to come out better for it.”
When the fires raged through the ACT, the Weston Creek area was hit particularly hard, and around 500 homes were lost. Simon says, “Unfortunately, around 20 to 25% of people weren’t insured, which was horrific. They were able to sell their blocks, however unable to buy back into the market for anywhere near what they were paid. Even though the block prices went through the roof.” Amazingly, the market did not grind to a halt. While many people decided to sell their land rather than rebuild, others stayed and rebuilt. New, healthy communities with new modern dwellings and fittings were forged. The market went up in price. They were selling faster than they were before.
For people who rebuilt, they constructed a home that was triple or quadruple the size of their previous home, and that increased value right across the board. Simon says, “As that activity happened in quite small areas, they became the most active part of real estate in the Canberra market for quite a while. And I expect that the same thing will happen down the coast. Where we see great activity, frenetic activity then happens. You can expect that the value will jump through the roof on those properties as they complete. It’ll be a tough time, and it will take months and maybe years, but I think there’s going to be a great opportunity in those areas as things rebuild.”
There were flow-on effects too. Simon says, “As a suburb rebuilt, and certain suburbs were affected more than others, that had a flow-through effect to the suburbs next door or surrounding. So we saw a gentrification theme through those suburbs as well. And the people who had houses in those areas benefited from the rebuild. The values went through the roof.”
In the face of all this darkness, there has been some light. Out of the ashes has come an extraordinary global spirit, which has inspired us all. We are all becoming aware of the need to nurture and respect our landscape and environment, and we have seen a tremendous outpouring of compassion. We want to do what we can too.
So to any agents out there, in a bushfire-affected area, the Real Estate Academy is offering $300 training dollars, to put towards any education, books, audio, online courses or The Complete Salesperson Course seminars. Just call our team on 1300 367 412
Let us know where you are. Let us know your story.