QLD Toowong - Possible flood risk?

I'm looking to purchase a PPOR. Our previous home on the other side of the river flooded in 2011 so we are going to be extra careful this time.

We have found what seems to be the perfect property except now that we have looked up the flood report, it seems that it has been flagged as a possible flood risk.

See the image below:


What I'd like to understand is:

• If the ground levels are so much higher than the flood level, does that still constitute a risk?
• The insurance premium is crazy (looking at Suncorp). I am assuming this is due to the flood risk, but is this something that can be negotiated with the insurance provider?

Thanks for looking!

 

Risk is up to your definition. A 1% chance that a flood will come 1.8m below the lowest land on the block is low in my risk appetite, but you need to make the call. Suggest look at the 2011 and older flood maps on same BCC site if it gives some comfort. Also check more insurers online quotes, you might be surprised at variance.

 

I did check more insurers, but it seems like the lower quotes do not have flood cover.

Including flood cover increases the cost by about 3x.

 

I can't edit my previous message, but I am also trying to work out if I have misunderstood what the graph is trying to communicate. If the lowest ground level is high enough then why is it even flagged as being a flood risk? Is this for development purposes if someone decides to excavate?

On insurance, perhaps there is no need for flood cover as it seems the property itself is really not at any risk at all.

 

It’s my understanding Council requires you to engage your own Hydraulic Engineer to undertake a flood risk assessment to ensure your lowest finished floor height is 1m above 1:100 flood height.
It could be that the Council assessment is a little rudimentary in your location of the street and requires more detail of the local topography/catchment.

 

Will that information be recorded and used for future reports? The place is a relatively new build and has likely increased the height of the plot.

I would have assumed that the council is already aware of this based on planning and approvals.

 

Please always check the Interactive Flood map and check potential risk on the surrounding area before purchase a new property.

 

Every flood is different.

Some places had higher flood levels in 2011 compared to 1974. Likewise, some areas were more affected in 1974 than in 2011.

Also, be aware that the next flood may be higher than any previous recorded flood.