1 00:00:00,120 --> 00:00:02,120 Speaker 1: Now one in ten Kei we homes are at risk 2 00:00:02,160 --> 00:00:04,920 Speaker 1: of getting flooded. This is according to a new official 3 00:00:04,960 --> 00:00:07,360 Speaker 1: report from the Ministry for the Environment. It shows one 4 00:00:07,400 --> 00:00:09,800 Speaker 1: hundred and eighty billion dollars worth of assets are currently 5 00:00:09,800 --> 00:00:13,280 Speaker 1: in flood prone areas and thirteen hundred coastal homes are 6 00:00:13,360 --> 00:00:16,520 Speaker 1: likely to experience significant weather damage by the year twenty sixty. 7 00:00:16,760 --> 00:00:19,800 Speaker 1: Allison Collins is the Ministry for the Environment's Chief Science 8 00:00:19,800 --> 00:00:20,800 Speaker 1: Advisor and with us HI. 9 00:00:20,840 --> 00:00:23,360 Speaker 2: Allison good evening Heather. 10 00:00:23,520 --> 00:00:25,160 Speaker 1: Where are these flood prone houses? 11 00:00:26,360 --> 00:00:32,000 Speaker 2: Where are they across the country? Many in low lying 12 00:00:32,040 --> 00:00:36,720 Speaker 2: coastal communities and on flood chains, so a variety of 13 00:00:36,760 --> 00:00:37,560 Speaker 2: different places. 14 00:00:37,800 --> 00:00:38,720 Speaker 1: Is it really one and ten? 15 00:00:41,320 --> 00:00:44,120 Speaker 2: I think it's what it's two hundred and nineteen thousand 16 00:00:44,159 --> 00:00:49,519 Speaker 2: residential properties, and I think it's about two million, So. 17 00:00:49,479 --> 00:00:52,760 Speaker 1: It's about one and ten. One in ten represents one 18 00:00:52,840 --> 00:00:55,120 Speaker 1: hundred and eighty billion dollars in assets which we cannot 19 00:00:55,240 --> 00:00:57,160 Speaker 1: we cannot afford to buy these owners out. So what 20 00:00:57,200 --> 00:00:57,600 Speaker 1: do we do? 21 00:00:59,560 --> 00:01:02,280 Speaker 2: So I'm the insurers are certainly signing higher premiums in 22 00:01:02,360 --> 00:01:05,440 Speaker 2: high risk areas. The report that we've pulled together really 23 00:01:05,520 --> 00:01:07,960 Speaker 2: is to provide the evidence about where the risk is 24 00:01:08,880 --> 00:01:12,840 Speaker 2: and how it's increasing, so that communities, insurers, others can 25 00:01:12,880 --> 00:01:13,920 Speaker 2: make informed decisions. 26 00:01:14,080 --> 00:01:16,920 Speaker 1: Yeah, so that they can basically what they can charge 27 00:01:16,920 --> 00:01:18,880 Speaker 1: you more for being in one of these areas. Basically. 28 00:01:18,959 --> 00:01:22,720 Speaker 2: Yeah, Well, I think it's being transparent about the risks 29 00:01:22,720 --> 00:01:25,759 Speaker 2: and then what we do with that is a different question. 30 00:01:26,959 --> 00:01:28,760 Speaker 1: So what do you think happens. Is it just a 31 00:01:28,800 --> 00:01:31,000 Speaker 1: case of the insurer's pricing it's so high that eventually 32 00:01:31,040 --> 00:01:33,560 Speaker 1: people have to sell. 33 00:01:34,120 --> 00:01:36,679 Speaker 2: Well, the report itself doesn't decide on funding. It just 34 00:01:36,720 --> 00:01:39,760 Speaker 2: shows what's at risk and helps target investment so costs 35 00:01:39,760 --> 00:01:43,880 Speaker 2: are wasted and exposure doesn't keep growing. Yeah, And really 36 00:01:43,920 --> 00:01:46,399 Speaker 2: it's there to also inform future spacial planning so that 37 00:01:46,400 --> 00:01:50,200 Speaker 2: we can avoid repeating past exposure and making sure we're 38 00:01:50,200 --> 00:01:52,160 Speaker 2: building in the right places in the coastal homes. 39 00:01:52,320 --> 00:01:54,000 Speaker 1: Are we talking about when we're talking about these thirteen 40 00:01:54,080 --> 00:01:56,560 Speaker 1: hundred coastal homes? Are they the ones low lying by 41 00:01:56,680 --> 00:01:58,880 Speaker 1: the beach excuse me? Or are they ones even up 42 00:01:58,880 --> 00:02:01,200 Speaker 1: on cliffs? 43 00:02:01,480 --> 00:02:05,000 Speaker 2: Mostly low lying coastal areas. But it's also you have 44 00:02:05,080 --> 00:02:08,240 Speaker 2: to think about where you're getting sea level rise, and 45 00:02:08,280 --> 00:02:10,200 Speaker 2: so there are some areas in what we know Wellington's 46 00:02:10,200 --> 00:02:13,239 Speaker 2: and Eden where there are you know, just the wrong 47 00:02:13,280 --> 00:02:18,360 Speaker 2: combination of factors. Really, so you're getting subsidence, sea level rise, 48 00:02:19,480 --> 00:02:22,880 Speaker 2: and it's yeah, bringing all those things together. Yeah. 49 00:02:22,919 --> 00:02:25,040 Speaker 1: Do you think people are awake enough to these risks 50 00:02:25,080 --> 00:02:29,800 Speaker 1: when they're buying property? 51 00:02:30,000 --> 00:02:32,919 Speaker 2: I'm not sure really. I mean I bought my property 52 00:02:33,800 --> 00:02:35,760 Speaker 2: ten or fifteen years ago. I did look at the 53 00:02:35,760 --> 00:02:39,519 Speaker 2: Limb report. That's one of the reasons why we need 54 00:02:39,680 --> 00:02:42,600 Speaker 2: good accessible evidence and information so that people can make 55 00:02:42,600 --> 00:02:44,400 Speaker 2: an informed decision when they're buying property. 56 00:02:44,919 --> 00:02:46,679 Speaker 1: Yeah, fair enough, Hey, thank you very much, Allison. I 57 00:02:46,680 --> 00:02:49,200 Speaker 1: really appreciate Ellison Collins, the Ministry for the Environment's Chief 58 00:02:49,280 --> 00:02:51,760 Speaker 1: science Advisor. I mean, you think about the just think 59 00:02:51,760 --> 00:02:53,720 Speaker 1: about that number, one hundred and eighty billion dollars, right, 60 00:02:53,760 --> 00:02:57,520 Speaker 1: So put just for a second, think about yourself here 61 00:02:58,080 --> 00:02:59,919 Speaker 1: if you've got one of these, if you let's say 62 00:03:00,040 --> 00:03:01,800 Speaker 1: you go you buy yourself a nice who doesn't want 63 00:03:01,840 --> 00:03:03,960 Speaker 1: a beach house right by the beach, can open the 64 00:03:04,000 --> 00:03:07,679 Speaker 1: doors in the morning, get your cup of coffee, look 65 00:03:07,680 --> 00:03:09,720 Speaker 1: at the beach. Oh yeah, you run out for a 66 00:03:09,720 --> 00:03:12,480 Speaker 1: little swim house. Isn't that just the dream? Okay, you've 67 00:03:12,520 --> 00:03:15,720 Speaker 1: now sunk two million and frankly, if you're sinking only 68 00:03:15,720 --> 00:03:19,520 Speaker 1: two million, well done you. Let's say you're sinking five million, 69 00:03:19,720 --> 00:03:22,799 Speaker 1: you're sinking five million, what's going to happen to you? 70 00:03:22,840 --> 00:03:24,600 Speaker 1: Because it's all adding up to one hundred and eighty 71 00:03:24,600 --> 00:03:26,600 Speaker 1: billion dollars and we cannot afford to buy everybody out, 72 00:03:26,639 --> 00:03:28,120 Speaker 1: So what do we do? So just I don't know, 73 00:03:28,240 --> 00:03:30,120 Speaker 1: I don't know. It's a conundrum, isn't it. It's a 74 00:03:30,160 --> 00:03:34,160 Speaker 1: conundrum of the time. For more from Hither Duplessy Allen Drive, 75 00:03:34,320 --> 00:03:37,720 Speaker 1: listen live to news talks it'd be from four pm weekdays, 76 00:03:37,840 --> 00:03:40,040 Speaker 1: or follow the podcast on iHeartRadio.