Survival was on the mind of many Brisbane residents as they found themselves in the path of one of Queensland's most significant weather events in decades.

AMP chief economist Shane Oliver estimated the cost of the storm could be $1.1 billion a day based on the population of affected regions, but that was expected to be a “very short-term impact”. “Then you’ve got this flip side of that, the rebuilding kicks in and that acts as a stimulus,” Oliver said.

Brisbane is a subtropical city of more than 2.5 million people, situated on a flood-prone river. That’s why residents mustn’t get complacent after Cyclone Alfred.

Acting Police Commissioner Shane Chelepy has defended the warnings issued by police to the community, after residents in Brisbane were caught off guard by cyclonic level winds overnight to Sunday.

South East Queensland and northern NSW are in it for the long haul with ex-Tropical Cyclone Alfred, forecasters have warned, with severe weather and flood warnings still in place for large parts of the east coast.

Brisbane residents have relived their horror after a massive gum tree came crashing through their family home during cyclonic winds last night.

South East Queensland and northern NSW continue to experience thunderstorms, intense rainfall and flooding in the wake of Alfred. Follow our ongoing coverage.

Ex-tropical Cyclone Alfred has been downgraded to a tropical low, as it approaches Australia’s eastern coast. Although the speed at which Alfred is travelling has slowed, Brisbane locals have been sent a stark warning of what might be to come.

Brisbane bus drivers braved wild conditions to deliver 700 services on Sunday morning before being recalled about 11am but the southeast’s trains and ferries are still offline.

Australia's Star Entertainment is selling its half-share in a Brisbane entertainment complex to its Hong Kong partners for A$53 million ($33.4 million) in a last-minute bailout for the cash-strapped casino group.