Bushfires in Australia are unfortunately a frequently occurring event. This has caused damaged to millions of acres of land, as well as property. Just as of yesterday, 80 bushfires were reported in the West Sydney, causing damages to houses in the area. Knowing the country’s topography and disaster tendencies should be a major factor when purchasing property, as these natural disasters can destroy your investment in an instant.
Apart from property investment strategies to value the property according to its demographics, population and accessibility, it is wise to check the natural disaster history of the location. Check your local disaster preparedness group for lists of disaster prone areas. Real estate vendors in Victoria are now required to disclose if the property is bushfire prone, and other vendors should follow suit.
Read more on the Property Observer website.
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