Balanced Flood hazard

Discussion in 'What to buy' started by SydneyInvestor, 14th Jun, 2017.

Join Australia's most dynamic and respected property investment community
Tags:
  1. SydneyInvestor

    SydneyInvestor Well-Known Member

    Joined:
    18th Jan, 2016
    Posts:
    321
    Location:
    sydney
    Hey All,

    I am interested in a property but it is shown with Flood Hazard as Balanced area on MRBC website. Now, with my limited knowledge, I do understand that with High or Medium risk of flood, the property is not desirable. But in the fact sheet Balanced area says, either no risk or a very low risk of flooding. Can you please help me in understanding if you would go ahead for such a property or give it a miss.
    Also, what is the best place type for property zoning: Is it suburban neighbourhood or Urban neighbourhood or something else.

    Appreciate your help!

    Regards
    Nish
     

    Attached Files:

  2. SydneyInvestor

    SydneyInvestor Well-Known Member

    Joined:
    18th Jan, 2016
    Posts:
    321
    Location:
    sydney
    Hey guys, bumping up, if anyone could help please.....Thanks!!
     
  3. RetireRich101

    RetireRich101 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,149
    Location:
    Sydney
    see this discussion, somewhere RPI provided a reply
    QLD Moreton Bay City Council Floods

    it's a prediction of 80 years away, but still..it's mother nature that you can't predict
     
    SydneyInvestor likes this.
  4. T Macdonald

    T Macdonald Member

    Joined:
    29th May, 2017
    Posts:
    23
    Location:
    NSW Central Coast
    Best to seek clarity via the local council...
     
    SydneyInvestor likes this.
  5. dabbler

    dabbler Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,572
    Location:
    Sid en e - olympic city
    It is not so easy to know what will happen.

    I was in a place that floods quite bad, in the most recent and record event, it did quite the opposite of what it had done in prior events.

    And then you have other events, so if your near the ocean and fiddling around with council maps etc, I wonder what good they will have been if a tsunami comes in ?

    So I guess there are a number of things to factor into this.
     
    SydneyInvestor likes this.
  6. SydneyInvestor

    SydneyInvestor Well-Known Member

    Joined:
    18th Jan, 2016
    Posts:
    321
    Location:
    sydney
    @RetireRich101 Thank for pointing to the thread :)
     
  7. SydneyInvestor

    SydneyInvestor Well-Known Member

    Joined:
    18th Jan, 2016
    Posts:
    321
    Location:
    sydney
    Thanks @T Macdonald
    Thanks @dabbler , absolutely right. I think, its better to be safe than being sorry...
     
  8. T Macdonald

    T Macdonald Member

    Joined:
    29th May, 2017
    Posts:
    23
    Location:
    NSW Central Coast
    The Council will give you the best information relative to 1:100 flood probability and any potential development restrictions
     
  9. Kevin Klien

    Kevin Klien Member

    Joined:
    19th Jun, 2017
    Posts:
    10
    Location:
    NSW
    I agree... if possible ask for the flooding area sites of the city. check this Floods
     
  10. T Macdonald

    T Macdonald Member

    Joined:
    29th May, 2017
    Posts:
    23
    Location:
    NSW Central Coast
    I worked for many years in the natural hazard assessment world in local government as the most detailed mapping is usually via the local council. Another key consideration is the insurance side of things... especially if the property is ever flooded by salt water (an estuary during low pressure systems/cyclones) as opposed to overland or catchment flooding. It gets murky in what is and isn't covered. Also ask insurers where they get their mapping from and how it is applied to individual parcels. This varies substantially and you should recognise the value of ensuring the best available information is being used as opposed to blanket application of insurance policy across post codes.
     
  11. Gavin Ng

    Gavin Ng Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    198
    Certain flood risk levels will trigger a flood study. Meaning an extra 10-15k when developing the site, the flood study will then recommend a minimum ffl (finished floor level) for habitable areas. Ask the council - "will i need a flood study to develop the site?"

    Hypothetical scenario - flood study comes back and says you need to jack the ffl up 1.5 metres, but doing so on a two storey home might breach the height limit, therefore only limiting you to build single storey, plenty of implications for development.

    If it's a freshly subdivided lot the flood study may have already been done, and the minimum ffl's are already on the title as a covenant or restriction, negating the need for a flood study.

    Call council and also check the title if it's a fresh lot.
     

Property Investors! Ready to Pay Less Tax? Estimate how much Property Depreciation you can claim on your Investment Property. Washington Brown's calculator is the first calculator to draw on real properties to determine an accurate estimate.