Banking exposure to flooding

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Amongst the usual review of weekly data and preview of the RBNZ OCR call this week, Nick and Kelvin also take a look at the RBNZ's latest paper on flooding exposure of the banking system. A couple of key insights extracted by Kelvin are:

• Property prices could fall 80 – 100% in the most extreme cases in NZ in the event of a large coastal flood – due at least in part to insurance withdrawal.
• 25% of Auckland mortgages are vulnerable to a 1-in-100-year rain/surface flooding event.

Tune into all that and more in this week’s NZ Property Podcast. 

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