Alarming new modelling has revealed more than 47,000 homes are at high-risk of flooding again by 2030 across Brisbane, which could impact property prices, insurance prices and mortgages.

Carried out by risk analysis provider Climate Valuation, this research shows climate-change-fuelled flooding poses a serious threat for the future of Brisbane and results in immense property value losses.

Climate valuation chief executive Dr Karl Mallon says it’s about trying to get a handle on the trends.

“And try to alert people away from this idea that these are going to be rare events to the idea these are going to be more frequent, and therefore we’ve got to be more on the front foot with how we handle it.”

He says the property market has been thrown around, particularly after the 2011 floods.

“The question is, does the property market keep forgetting and buyers will see the same thing, or does there become a permanent shift in the pricing?

“Now we think that because insurance is inevitably going to go up in these high-risk areas, that it’s going to start to effect the willingness of banks to offer mortgages because they’ll have to include the value of insurance into people’s serviceability and that is going to permanently pull down these property values, not just in Brisbane, but Gold Coast, Sunshine Coast and then obviously further up into north Queensland as well.”

Press PLAY below to hear more about the modelling

Images: Getty iStock, Peter Psaltis