Flooding costs tipped to worsen

RECENT flooding events, including Townsville’s 2019 flood disaster, have highlighted the need to overhaul Australia’s land-use planning rules arrangements.

A new report released on Thursday by the Insurance Council of Australia called Flooding and Future Risks identifies the need for an overhaul of the rules governing how and where new homes are built to protect Australians from worsening flood risk.

Drawing on analysis conducted by James Cook University’s Cyclone Testing Station in association with Risk Frontiers, the report is based on data gathered from thousands of flood claims covering four recent flood events.

It identifies flooding as one of the costliest extreme weather events in Australia, leaving Townsville with a $606m damage bill in 2019, and this year’s floods across South East Queensland and northern NSW had a $3.34bn damage bill – the most expensive ever.

As the climate warms, the report noted that existing flood zones were likely to expand and expose more property and assets, placing more than one million private properties, or about one in 10 homes, at some level of flood risk nationwide.

ICA chief executive Andrew Hall said the report underscored the need to make better decisions in land use planning, building standards and government investment in mitigation works to end the cycle of flood impacts.

The ICA made a number of recommendations based on issues identified by the report.

With modern-day land use planning settings not adequately protecting property from flood risk, it recommended that developments adhere to provisions in the floodplain handbook while considering the likelihood of extreme flooding events.

The ICA wants an overhaul of Australian building codes and standards.