Buying a house with flood related development control

Long time lurker first time poster - fairly new to the property game so go easy. I'm looking to buy a house in the St. George area to live in for my young family and have our eyes on a property which fits all our criteria except it's been identified as within an area with flood related development controls. It's a property on a irregular block of land with potential for subdivision to a duplex (fitting the frontage and min. lot requirements). We don't really have any plans to redevelop the property but I was wondering if anyone would have advice on what this means. Will it have a significant impact on price when selling, and how much cost it would add to any future redevelopment works?

The insurance companies have no trouble covering the property with flood cover and the premiums are not much above comparable average.

The relevant contract clause states:

^. Flood related development controls information ls the development on the land or part of the land for the purposes of dwelling houses, dual occupancies, multi dwelling housing or residential flat buildings (not including development for the purpose of group homes or senior housing)subject to flood related development controls? Yes - The land in question or part of the land in question has been identified in the xx Overland Flow Risk Management Plan to be below the flood planning level and therefore subject to stormwater flooding related development controls. Development Controls are contained in xx Development Control Plan 2013, Councils Water Management Policy and the xx Flow Risk Management Study and Plan. For more information contact Council's Catchment and Waterways section on 9330 6400.

Thanks very much

 

Have you reviewed Council's flood map to get an idea of the affectation? Eg. it a sloping block so the lowest part may be affected.

Council's hydrology dept, a private hydrologist or Water NSW may be able to assist.

 

1) Contact the Council's Catchment and Waterways section with some questions.
2) There is new legislation to be commenced on July 6th which may also have new controls for the type of land and development you wish to do.

 

Have current S149 (2)(5) been updated for the changes or will a new one be required after it comes into force?

 

It sure would not meet my criteria for a property.

Insurers will write coverage but they will probably not pay out in the event of a flood.

Development will become harder, more expensive and/ or impossible in the future.

 

Good question actually.......will have to confirm, however I know that some councils will need to catch up on several aspects to align with the new regs, one being new definitions that are not in their LEPs yet.

 

Thanks for the input, the council didn't seem to have a clue what we were asking. having had a look at the floodmaps it doesn't look like the property is affected at all whether at 1% or 20%. Redevelopment is less of a concern as I do plan to live in it for the forseeable future, would it affect extensions eg. adding another level?