christchurch earthquake 2011 damage cost
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christchurch earthquake 2011 damage cost

christchurch earthquake 2011 damage cost

Hurricane Sandy struck along a path of 8 countries throughout … considered an earthquake hotspot trigger one of the largest insurance losses ever? In the central city, two buses were crushed by falling buildings. Impacts of Christchurch Earthquake In total, the 'rehabilitation' costs $15.1 billion dollars worth of damage, Many businesses needed to fire employees due to the heavy re-building fee. Tertiary Education Minister Steven Joyce said the Government had guaranteed the university's government fee subsidies in 2011 and 2012, irrespective of the level of enrolments. The city of Canterbury and its suburbs received the brunt of the damage. The Government had asked for further information on the university's business case for extra financial support so it was based "on a greater level of certainty about student enrolments, the buildings and other earthquake impacts". Overall, the Canterbury economy has been reasonably resilient to the impact of the earthquakes, and the spillover to other regions in New Zealand has been limited. Tina Law, Live: Ministry of Health shares full list of 28 locations in Northland visited by woman with Covid-19, Covid-19: Northland woman tests positive for Covid-19 after leaving managed isolation, Covid-19: 28 businesses visited by Northland woman who tested positive for coronavirus, America's Cup: Key rule review looms as British enter Prada Cup final with risk of disqualification, Keisha Castle-Hughes posts wedding photos from New York, Migrant community fight 'inhumane' plan to move NZ Super goalposts, Tenant awarded $30k after living with his family in uninsulated sleepout, Music industry professionals demand change after speaking out about its dark side, Quiz: Afternoon trivia challenge: January 24, 2021, One person dead after small boat capsized in Days Bay, Lower Hutt. In the greater Canterbury region, 86 schools with little or no geotechnical problems were being repaired and were scheduled to be completed this month or next. On June 13, 2011 the South Island of New Zealand was hit by a 6.3 magnitude earthquake that caused major damage. Between September 2010 and the end of 2011, 4 major earthquakes and more than 11,200 aftershocks shook the residents of Christchurch and surrounding towns. Ph: +64 (0)9 307 1629. Some of the repair costs would be covered by insurance, but additional Government support could be needed, Education Minister Hekia Parata said. 1010, Auckland, NZ, 0800 843 627 At the time of Budget 2011, Treasury estimated the combined cost of 4 September and 22 February earthquakes to be equivalent to about 8 per cent of New Zealand's GDP. He said the $72m repair cost for the 10 hardest-hit schools could change as engineering issues were investigated. Christchurch Girls' High principal Prue Taylor said the school's auditorium, music and drama rooms would be demolished, and another block with two classrooms had also been red-stickered. Photos of earthquake damage in Christchurch NZ, caused by the 2010 & 2011 earthquakes and their after-shocks. The earthquake struck the city of Christchurch in New Zealand on 22 February 2011. Education Ministry planning, policy and standards manager Jerome Sheppard said the latest estimate of damage to schools in the region was between $100m and $150m. But that will not stop the government forecasting to achieving its political totem of a return to fiscal surplus in the year to June 2015 in the annual Budget, to be published on May 16. We will be looking to have discussions about what the long-term building plans are," she said. Repairs to the southern New Zealand city of Christchurch after two earthquakes within the past six months may cost as much as NZ$20 billion ($15.1 billion), Prime Minister John Key said. Several aftershocks were reported, some registering at a 5.6 magnitude. Damage from February, 2011 earthquake in Christchurch, New … Canterbury schools suffered up to $150 million of earthquake damage, and the 10 hardest-hit schools will cost $72m to repair. Some economists have estimated it will take the New Zealand economy 50 to … "It means we are now financially exposed to any future event of any size.". Christchurch is a city in New Zealand The earthquake took place at a conservative plate margin between the Pacific plate and the Australian plate. "The Budget will also show that the estimated net fiscal cost of the earthquakes to the Crown will rise from around $13 billion at the half-year fiscal update last December to around $15 billion. At the same time, economists are warning the rebuild could take a whole generation to complete. The figures were for state schools and did not include integrated or independent schools. The Christchurch rebuild just got $10 billion more expensive, of which the government expects to provide $2 billion, Prime Minister John Key has told the National Party's South Island regional conference. Christchurch had experienced many earthquakes for a year long but the one that occurred on the 22 of February 2011 was the most deadliest and the most costliest. The scale of the rebuild is unprecedented," he says. but this article is about how the city is faring 5 years in. Seven years on, Deloitte has calculated how much the 2010 and 2011 earthquakes will cost the city council. Achilles House Thousands of aftershocks followed the 22 February 2011 quake, some large enough to cause additional damage. Forty-six people suffered injuries, two of which critical, and one elderly man died after being knocked unconscious. "We will do what it takes to rebuild our second largest city, and that commitment will be unwavering.". Six months later, on February 22, 2011, another powerful earthquake struck the same region, severely damaging Christchurch, and killing 185 people. Parata was not able to say when all the quake repairs would be completed because the timing of some work was still being decided as part of the overall recovery plan. Road and bridge damage occurred and hampered rescue efforts. 2012 Hurricane Sandy – $75 Billion. There were 185 deaths and many injuries caused by the earthquake. The revised Treasury estimate adds 33 percent to the previous official cost for earthquake rebuild of $30 billion, published in the half-year fiscal update in December. Despite this, the Budget will still show the government is on track to a surplus in 2014-15.". Christchurch's Catholic cathedral damaged after the earthquake, in 2011. When the total cost for repairing was calculated in April 2013, the estimated cost was NZ$40 billion. Christchurch quake cost rises $10b to $40b. Buildings ruined during the Christchurch Earthquake of 2011 Dave and Deb visited Christchurch just days after the earthquake, and you can read about that their experience with Aftershocks in Christchurch here . 8 Commerce Street     At least 15,899 people died, and another 2,500 went missing. Insurance premiums have skyrocketed from $2.5m in 2010-11 to $6.2m this year. It is also facing a massive repair bill for its buildings, with early estimates suggesting $190m would be needed to bring them up to new standards. Though the government supplied money for those who were fired, businesses that needed re … The Christchurch rebuild is forecast to start in earnest during the second half of 2012, continuing through to at least 2016. He said that even a quake large enough to warrant a claim would still mean the university would be up for the first $20m. The epicenter of the 6.3 magnitude "Geotech testing is going on this week. The school, which spent most of last year sharing with Burnside High School, has been guaranteed use of the site only for the next two years. State of national emergency. Christchurch is a city in New Zealand. The rebuilding of Christchurch, New Zealand's third-largest city that suffered a major earthquake in February 2011, will cost a total of $NZ40 billion ($33.9 billion), an increase of 33 per cent from a December estimate, Prime Minister John Key said. The Education Ministry would not release the cost of repairing each school, but it has said it spent $10m reopening Avonside Girls' High at its Avonside Dr site, $2.5m at Shirley Boys' High and $900,000 at Linwood College, which was sixth on the list. The concept design for Christ Church Cathedral, which was significantly damaged in the 2011 Christchurch earthquake, has today been unveiled. Christchurch earthquake: 10,000 homes face demolition ... Mon 7 Mar 2011 03.22 EST. Most Cantabrians were away from their homes when the 6.3-magnitude earthquake struck at 12.51 p.m. on 22 February 2011. Apart from physical injuries, international literature suggests that psychosocial recovery after a disaster can take five to ten years. The cost to repair was $40 billion. A clearer picture of 2012 enrolments would be known in the next few weeks, Joyce said. The costs of disasters vary considerably depending on a range of factors, such as the geographical location where they occur. Level 3, Suite 306 "That always meant that it would be difficult to get an exact handle on the total estimated cost straight away. This time it was often colleagues, classmates or complete strangers who comforted and hel… The earthquake caused widespread damage in the region and generated hundreds of perceptible aftershocks, with four equal to or greater than magnitude 6. In April 2013, the rebuilding cost of Christchurch and the surrounding Canterbury region was estimated at $40 billion. The region was struck by three devastating quakes in 2010 and 2011, destroying swathes of Christchurch. The earthquake … The region was struck by three devastating quakes in 2010 and 2011, destroying swathes of Christchurch. The university had put a business case to the Government asking for at least $150m to help it meet existing quake-related costs. If another large quake hit, the university would need to seek further support from the Government to repair damaged or impaired buildings, Carr said. Recorded on February 23, 2011 using a Flip Video camera.Christchurch Earthquake (22.02.2011) - Liquefaction & Road Damage A number of cars were crushed by falling debris. "This is the largest and most complex, single economic project in New Zealand's history. Christchurch City was made up of approximately 145,000 dwellings at the time of the earthquake, with approximately 10,000 of those listed as unoccupied .According to the 2006 census, 7.4% of residents living in Christchurch considered themselves of Maori descent . The Canterbury earthquakes are not the largest earthquakes in New Zealand's history, but the February quake has lead to more costly damage than for any other natural disaster in New Zealand.. After the first Canterbury earthquake the National Crisis Management Centre in the basement of the Beehive in Wellington was activated. When a large disaster occurs in a wealthy country, the financial damage may be large, but when a comparable disaster occurs in a poorer country, the actual financial damage may appear to be relatively small. Avonside Girls' High principal Sue Hume said the school had 60 new buildings, replacing two demolished two-storey teaching blocks and two red-stickered blocks. Shirley Boys' High principal John Laurenson said the bulk of the $2.5m spent at the school went on fixing underground infrastructure. The only existing buildings the school was able to use were the drama and music blocks and the gymnasium, which was strengthened before pupils and staff moved back last month. The cost of the Canterbury earthquakes to EQC almost exhausted the $5.6 billion in the Natural Disaster Fund and the cost to EQC of any future major disaster is likely to be borne to a much greater extent by the government until the fund is replenished. It has said the total cost will be more than $10 billion. University vice-chancellor Rod Carr said the $20m excess applied to any quake damage that happened after November. The revised Treasury estimate adds 33 percent to the previous official cost for earthquake rebuild of $30 billion, published in the half-year fiscal update in December. It was the middle of a working day and many people were at school or work, having lunch or running errands. Hume said she had not heard about the long-term future of the school on its site. But by April 2013, the total estimated cost had ballooned to $40 billion. Northridge, California (1994) Insured losses: $15.3 billion Overall losses: $44 billion Fatalities: 60 On … The September quake had occurred in the early hours of the morning with family generally close at hand. The main city in the region is Christchurch, with approximately 370,000 people living there prior to the earthquake sequence. The figure did not include possible redevelopment costs associated with changes to the schooling network as a result of shifting demographics or the general repair of unstable land, he said. $370 million Insurance Costs 3500 Homes Destroyed On 22 February 2011, a 6.3 magnitude earthquake struck Christchurch shortly before 12:50pm at a shallow depth of four kilometres. Absolutely, because this is exactly what happened when a 6.3 magnitude earthquake hit Christchurch, New Zealand, on 22 February 2011. Canterbury University will be "financially exposed" if it is hit by another big earthquake after its insurance excess jumped to $20m. Photograph: David Wethey/EPA These were the seeds of what Smith hoped would become more of a … It went down in the record books as New Zealand’s most costliest natural disaster. It was 6.3 on the Richter scale and 8 on the Mercalli scale. The coverage was the best that was available, Carr said. Restoration costs in Christchurch following the February earthquake were estimated to increase by NZ$6 billion (US$4.8 billion) because of the additional damage from this event. The earthquake and tsunami in Japan is said to have accounted for more than half of the damage, overall. More precise information about actual costs across a range of areas, including housing, social investment, infrastructure and commercial development, had taken time to accumulate. Soil liquefaction and surface flooding also occurred. The university would receive $117.4m this year, up from $112.2m in 2011. Christchurch quake cost rises $10b to $40b. The increase implies a potential 25 percent uplift in the expected impact of the rebuild on economic activity, with a ramp-up in activity in Christchurch now starting to show through in economic statistics and forecasts. A magnitude 6.3 quake struck directly under Christchurch at 12:51 on 22 February 2011, killing 185 people and destroying or damaging around 170,000 buildings. It was a 6.3 magnitude earthquake and the focus was very shallow at 4.99 kilometres deep. The massive – and unexpected – insurance costs exposed blind spots in current views of financial earthquake risk. Information released to The Press under the Official Information Act shows Avonside Girls' High School, Shirley Boys' High School and Christchurch Girls' High School were the three schools with the most damage. "This estimate includes capital costs incurred by entities, such as commercial entities, as well as the Crown," says Mr Key, indicating additional costs for insurance companies, including global reinsurers who stand behind locally issued policies. Road surfaces were forced up by liquefaction, and water and sand were spewing out of cracks. Carr said given the damage in the December quakes, it would have to be a large shake to exceed the excess. Canterbury schools suffered up to $150 million of earthquake damage, and the 10 hardest-hit schools will cost $72m to repair. Existing funding might also have to be reprioritised to pay to fix schools, she said. "This provides certainty over a very significant part of their revenue as they recover from the quake," he said. "These estimates will continue to be updated from time to time, but they do not change the government's commitment to Christchurch and Canterbury," Mr Key says. It had four portable classrooms on site and another due to arrive. The December 23 quakes caused about $1m damage that the university would have to pay for itself. As a comparison, the March 2011 earthquake and tsunami in Japan is estimated to have caused damage equivalent to around 3 to 4 percent of Japan’s annual GDP. 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