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When you’re considering buying a property, especially within Australia’s diverse climate and geography, the term “1% flood event” carries real weight.

In a recent GroundTalk Podcast episode “Understanding Flood Zones: What Every Buyer Should Know” special guest Hala Hubraq, a leading expert in environmental and disaster risk, dissects what these flood zone classifications actually mean and what homebuyers should consider before signing on the dotted line.

What Is the ‘1% Flood’ Concept?

Also referred to as the 100-year flood level, a 1% flood event indicates a location where there’s a 1 in 100 chance of inundation in any given year. Although it may sound like a slim chance, it doesn’t imply rarity.  Such floods happen, on average, every century but could occur more frequently due to shifting climate patterns and annual variability.

This means properties in these zones face heightened flood risk, which might go undetected unless thoroughly evaluated, making this knowledge critical for both homeowners and investors.

Why Does This Matter for Buyers?

The episode highlights several pivotal areas buyers should be aware of:

  • Risk Awareness: Floods can devastate properties – causing structural damage, value loss, and eye-watering restoration costs.
  • Insurance Hurdles: Homes in designated flood zones may attract higher premiums or limited insurance options, sometimes requiring expensive add-ons or exclusions.
  • Resale Implications: Properties with flood histories or high-risk locations can deter future buyers, potentially depressing resale prices.
  • Regulatory Burdens: Redevelopment or extensions may require adherence to flood-specific building and zoning rules, complicating upgrades or renovations.

What the GroundTalk Podcast Covers

  • The realities of purchasing property in flood-prone areas.
  • Guidance and expert-backed strategies for risk assessment.
  • Insights to help you make informed investment choices
  • Practical advice for managing flood risk – from elevating properties and installing flood barriers to choosing the right insurance policy.

Whether you’re a homebuyer, property investor, or industry professional advising clients, Understanding Flood Zones: What Every Buyer Should Know” will bring clarity to a topic that’s often misunderstood. 

Tune in for essential insights that could shape your next big property decision here 

 

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