Climate risk is becoming an increasingly important factor in property purchasing decisions. Properties in flood zones, bushfire-prone areas, or coastal erosion zones face unique challenges.
Insurance costs for properties in high-risk areas can be prohibitive — sometimes adding thousands per year to your holding costs. In extreme cases, properties may become uninsurable, which affects both liveability and resale value.
Before buying, check council flood maps, bushfire attack level (BAL) ratings, and coastal erosion studies. Review the property's insurance history and get quotes before committing. As buyer's agents, we include natural disaster risk assessment in our standard due diligence process. It's not just about today's risk — it's about how that risk may change over the coming decades.