Those investing in real estate in Rockhampton may benefit from lower insurance premiums soon, as the Queensland Region invests in more flood levees.
Rockhampton is one area where a floodbank is being seriously considered and construction on the nearby Roma Levee has just begun.
If flood mitigation plans are rolled out in Rockhampton, Community Recovery and Resilience Minister David Crisafulli said he expects insurers to re-enter the market and reduce their costs for consumers, as they have been in Roma.
"This project shows we can come up with viable and responsible plans for levees, diversion channels and retention basins that make sense and provide lasting benefit," he said.
After Charleville upgraded its infrastructure to cope with flooding, annual insurance premiums fell by an average of $400, according to the Morning Bulletin.
Anyone wishing to invest in real estate in Norman Gardens or anywhere in Rockhampton may benefit from a reduction in insurance costs as well as the security and certainty the levee will bring.
The floodgate could help the Rockhampton community grow and prosper, and proposed construction jobs could boost the local economy.
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