Beware Australia’s property “Red Zones”

Recently, a prominent CEO in Australian real estate has said that the re-assessment of bushfire prone areas could see the spread of so called ‘red zones” by the insurance industry.

These areas would make it difficult for investors to secure insurance or, they will have to pay a very high premium.

The Insurance Council of Australia has released figures indicating claims exceeding $700 million due to the bushfires and tipped to top over $1 billion, due to the most recent devastation.

According to a recent report by Risk Frontiers, the top 10 most fire-prone areas are all in Victoria.

The report states that properties with 100 metres of bush-land are at a significantly elevated risk.

Here are the reports most fire prone towns/suburbs:

·       Halls Gap

·       Mt Buller

·       Jamieson

·       Lavers Hill

·       Shepparton

·       Warburton

·       Lorne

·       Belgrave

·       Wye River

·       Bright/Harrietville


For information on what landlords need to know about bushfires & natural disaster, read our article here: https://www.realrenta.com.au/blog/post/655


And for information on your tenants rights in the wake of a disaster, read our article here: https://www.realrenta.com.au/blog/post/652


Jason Gwerder
Tuesday, 11 February 2020

Join our mailing list Receive Free Property Tips and news

Now Partnered With


Contact Us

1300 11 RENT (7368)