Like most New Zealanders, I watched in horror as the footage from Cyclone Gabrielle started to come in, feeling a mixture of relief and guilt that my family was home and dry. Two hours east of my Rotorua home, the people of Hawkes Bay weren’t as lucky, and many people from different North Island communities are facing uncertain futures. 

It has been hard to put my investor hat on after this event, so when asked to put together a list of things I learned, I felt it might still be too soon. 

There are certainly some things I think of, today, following the disaster, and whether those ideas are upgraded to “learned” will depend on time. 

1. Climate change response, not just the economy, will be part of the election battle

The stakes are now raised for political parties to have policies leading into the next election. Not just Gabrielle, the sight of Auckland flooding the previous week jolted a lot of kiwis, and they will expect parties to have a well-defined stance on climate change and stormwater infrastructure. Another weather event closer to October would ratchet up the pressure.

2. A lot of money is about to be spent

The coming election policies will impact property owners a lot. More must be spent on infrastructure, and some land use will be curtailed or changed. What can and can’t be developed will be looked at. District plans will certainly be reevaluated. 

Costs for infrastructure will be above limits that many local councils are allowed to take on, so the central government will be asked to help. I think there will be battles between local and central governments, with the former wanting funding but resisting what they see as interference.

3. Insurance will cost more, especially in...