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Assessing the impact of floods and flood legislation on residential property prices

Eves, Chris, Blake, Andrea, & Bryant, Lyndall (2010) Assessing the impact of floods and flood legislation on residential property prices. In International Real Estate Research Symposium (IRES), 27 - 29 April 2010 , Putra World Trade Centre, Kuala Lumpur. (Unpublished)

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Abstract

The changing development and population sprawl in major cities, especially those located in high rainfall areas, has resulted in the need to review and re-assess potential flood impacts in these cities.

In many cases these new flood lines and flood maps have placed residential property that was previously considered to be flood free to now be considered to be potentially flood liable.

Previous research based in Sydney and the UK has identified the fact that residential property that has been subject to flooding has a decreased price and higher investment risk than flood free property in the same location. These studies have also shown that the greatest impact on residential property subject to flooding is just following a flood event.

In June 2009, Brisbane City Council released revised flood maps for the Greater Brisbane region and these maps have identified areas that have not previously been considered flood liable.

This paper will analyse the sale performance of flood liable streets in the main flood areas of Brisbane over the period January 1990 through to June 2009, to determine the variation in price for these flood liable areas to the residential property immediately adjoining them. The average sale price will be tracked on both a geographic location and socio-economic basis.

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ID Code: 32599
Item Type: Conference Paper
Keywords: Flooding, flood liable property, residential property, disaster impact, property returns
Subjects: Australian and New Zealand Standard Research Classification > BUILT ENVIRONMENT AND DESIGN (120000) > URBAN AND REGIONAL PLANNING (120500)
Australian and New Zealand Standard Research Classification > STUDIES IN HUMAN SOCIETY (160000) > HUMAN GEOGRAPHY (160400)
Divisions: Past > QUT Faculties & Divisions > Faculty of Built Environment and Engineering
Past > Schools > School of Urban Development
Copyright Owner: Copyright 2010 [please consult the authors]
Deposited On: 17 Jun 2010 08:59
Last Modified: 17 Jun 2010 08:59

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