The paper presents a methodology to analyse the direct impact of tropical cyclone hazard on communities in northern Australia. The study focuses on the maximum potential intensity (MPI) of the cyclonic wind hazard, and location. Storm surge impacts were developed using a simple relationship between intensity and storm surge height and mid-point sea-level rise projections. The impact on residential building stock of severe wind and storm surge hazards associated with IPCC climate change scenarios is considered. Changes in residential building stock, for over 500 coastal statistical local areas (SLAs) from Southeast Queensland anticlockwise to Perth, were estimated using Australian Bureau of Statistics population projections through to 2100. A Probable Maximum Loss (PML) curve was derived, and the average annual cost across a 5000 year period (or "annualised loss") was evaluated for each region. The projected population growth and the drift to coastal locations are significant elements in determining the damage associated with possible future cyclone threat.