River flooding may pose bigger risk to banks’ mortgage lending
House owners might see fall in property values as risk of flooding is priced into housing market, says RBNZ.
Reserve Bank analysis finds sea level rise not as big a risk as river and surface flooding.
The Reserve Bank has warned that river and surface water flooding might pose a bigger risk to the banks’ residential mortgage portfolios than coastal flooding.
It also warns the value of properties in flood zones is likely to fall once the risk is priced into the housing market.
The analysis is
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