CoreLogic head of research Tim Lawless does not believe storm and cyclone damage will have a lasting impact on the Queensland property market.“But look at the riverside areas of Brisbane now, it has very much bounded back, that whole appeal of buying close to the water is too much for people to resist.’’The latest report found that Brisbane’s dwelling prices had increased by 4 per cent in the past 12 months.More from newsMould, age, not enough to stop 17 bidders fighting for this homeless than 1 hour agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor6 hours ago RELATED: Property price growth rate picks up pace During March it recorded the lowest capital city price growth in Australia of just 0.2 per cent.The median house price in March rose by 0.1 per cent and units by 1.6 per cent.Mr Lawless said in Brisbane values were rising a little bit faster than household incomes.“But we are not seeing the same sort of concerns we have around an overheating housing market in Brisbane, that’s for sure,’’ he said. STORM and cyclone damage are tipped to dramatically slow down property sales numbers, but values are tipped to bounce back quickly.As CoreLogic released its latest home price growth index, head of research Tim Lawless said the cyclone’s affect on property markets would be short term.“I’d be surprised if it actually resulted in a decline in prices and values as a result in the markets that have been hit,’’ he said. GET the latest real estate news direct to your inbox here “I wouldn’t be surprised if we do see a slow down in transactional activity. That is exactly what we saw during 2011 when the Brisbane floods went though. There certainly was a temporary affect on prices, which was more reflective of damaged stock going through the market but what we really saw was just a halt. A pause in transactional activity as those people assessed the damage and looked at the areas that may have been affected. Nationally property price growth across the combined capital cities has sped up.“I think the slower growth rate in Brisbane is very much attributable to the weak jobs sector, we don’t see a lot of jobs being created in this market. But there are some positive signs for southeast Queensland in particular, when you look at migration trends, one example we have seen a real turn around in interstate migration rates, which is going to fuelling housing demand across that sector.’’Nationally dwelling prices increased 1.4 per cent across the combined capital cities during March.