To improve Australia’s housing stock to account for local natural hazards, systematic and quantitative analysis is needed.
The ICA has supported the Southern and Hills Local Government Association on this project, designed to increase the resilience of housing in a changing climate. The project focused on the economic benefits of climate ready homes and provides evidence to help adapt homes and map hazards.
Top takeaways from the report
- The building stock in the region varies significantly in terms of its resilience to natural hazards
- Vulnerable housing leads to higher living costs
- There is sufficient information available to know how to build climate ready homes
- The changing cost of insurance will influence how we build new homes and retrofit old homes
- Poor quality natural hazard data impacts insurance premiums
- The benefits of climate ready homes outweigh the costs for both new builds and retrofits
- The regional net present value of immediately retrofitting all 2,956 homes in regional hazard hotspots is estimated at over $72 million
- A climate ready home standard should be developed
- Vulnerable housing results in lower community resilience
The final report can be accessed here.
- Disaster Resilient Australia
- Government of South Australia
- Southern and Hills Local Government Association