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christchurch earthquake 2011 damage cost

Thousands of aftershocks followed the 22 February 2011 quake, some large enough to cause additional damage. University vice-chancellor Rod Carr said the $20m excess applied to any quake damage that happened after November. Absolutely, because this is exactly what happened when a 6.3 magnitude earthquake hit Christchurch, New Zealand, on 22 February 2011. 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.     At least 15,899 people died, and another 2,500 went missing. In the central city, two buses were crushed by falling buildings. Despite this, the Budget will still show the government is on track to a surplus in 2014-15.". but this article is about how the city is faring 5 years in. "It means we are now financially exposed to any future event of any size.". He said that even a quake large enough to warrant a claim would still mean the university would be up for the first $20m. 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. "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. 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. "Geotech testing is going on this week. 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 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 had four portable classrooms on site and another due to arrive. A number of cars were crushed by falling debris. 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. 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. Damage from February, 2011 earthquake in Christchurch, New … The main city in the region is Christchurch, with approximately 370,000 people living there prior to the earthquake sequence. It was the middle of a working day and many people were at school or work, having lunch or running errands. State of national emergency. Level 3, Suite 306 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". The region was struck by three devastating quakes in 2010 and 2011, destroying swathes of Christchurch. The region was struck by three devastating quakes in 2010 and 2011, destroying swathes of Christchurch. Existing funding might also have to be reprioritised to pay to fix schools, she said. The December 23 quakes caused about $1m damage that the university would have to pay for itself. It was a 6.3 magnitude earthquake and the focus was very shallow at 4.99 kilometres deep. Northridge, California (1994) Insured losses: $15.3 billion Overall losses: $44 billion Fatalities: 60 On … This time it was often colleagues, classmates or complete strangers who comforted and hel… The September quake had occurred in the early hours of the morning with family generally close at hand. Several aftershocks were reported, some registering at a 5.6 magnitude. 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. 1010, Auckland, NZ, 0800 843 627 Canterbury University will be "financially exposed" if it is hit by another big earthquake after its insurance excess jumped to $20m. We will be looking to have discussions about what the long-term building plans are," she said. At the same time, economists are warning the rebuild could take a whole generation to complete. The city of Canterbury and its suburbs received the brunt of the damage. 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. When the total cost for repairing was calculated in April 2013, the estimated cost was NZ$40 billion. "That always meant that it would be difficult to get an exact handle on the total estimated cost straight away. Some of the repair costs would be covered by insurance, but additional Government support could be needed, Education Minister Hekia Parata said. Christchurch quake cost rises $10b to $40b. Recorded on February 23, 2011 using a Flip Video camera.Christchurch Earthquake (22.02.2011) - Liquefaction & Road Damage The university would receive $117.4m this year, up from $112.2m in 2011. "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. Carr said given the damage in the December quakes, it would have to be a large shake to exceed the excess. It has said the total cost will be more than $10 billion. 8 Commerce Street Hume said she had not heard about the long-term future of the school on its site. It has now been asked by the Government to update its business case, with new financial forecasts taking into account last year's outcome and this year's enrolment data. Photos of earthquake damage in Christchurch NZ, caused by the 2010 & 2011 earthquakes and their after-shocks. Christchurch quake cost rises $10b to $40b. Most Cantabrians were away from their homes when the 6.3-magnitude earthquake struck at 12.51 p.m. on 22 February 2011. The earthquake … Road surfaces were forced up by liquefaction, and water and sand were spewing out of cracks. 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. 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. considered an earthquake hotspot trigger one of the largest insurance losses ever? Shirley Boys' High principal John Laurenson said the bulk of the $2.5m spent at the school went on fixing underground infrastructure. 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. Canterbury schools suffered up to $150 million of earthquake damage, and the 10 hardest-hit schools will cost $72m to repair. 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. Achilles House 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. 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. Some economists have estimated it will take the New Zealand economy 50 to … Christchurch's Catholic cathedral damaged after the earthquake, in 2011. 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 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 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. "This provides certainty over a very significant part of their revenue as they recover from the quake," 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. The earthquake and tsunami in Japan is said to have accounted for more than half of the damage, overall. The government expects to provide $2b of the extra cost, Prime Minister John Key says. 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 do what it takes to rebuild our second largest city, and that commitment will be unwavering.". 2012 Hurricane Sandy – $75 Billion. Hurricane Sandy struck along a path of 8 countries throughout … 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. If another large quake hit, the university would need to seek further support from the Government to repair damaged or impaired buildings, Carr said. But by April 2013, the total estimated cost had ballooned to $40 billion. The cost to repair was $40 billion. The earthquake caused widespread damage in the region and generated hundreds of perceptible aftershocks, with four equal to or greater than magnitude 6. The costs of disasters vary considerably depending on a range of factors, such as the geographical location where they occur. 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. Canterbury schools suffered up to $150 million of earthquake damage, and the 10 hardest-hit schools will cost $72m to repair. The coverage was the best that was available, Carr said. Photograph: David Wethey/EPA These were the seeds of what Smith hoped would become more of a … He said the $72m repair cost for the 10 hardest-hit schools could change as engineering issues were investigated. More precise information about actual costs across a range of areas, including housing, social investment, infrastructure and commercial development, had taken time to accumulate. It was 6.3 on the Richter scale and 8 on the Mercalli scale. Ph: +64 (0)9 307 1629. The earthquake struck the city of Christchurch in New Zealand on 22 February 2011. 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. 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. Seven years on, Deloitte has calculated how much the 2010 and 2011 earthquakes will cost the city council. Christchurch is a city in New Zealand. "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. 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 . There were 185 deaths and many injuries caused by the earthquake. Though the government supplied money for those who were fired, businesses that needed re … Insurance premiums have skyrocketed from $2.5m in 2010-11 to $6.2m this year. 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. Road and bridge damage occurred and hampered rescue efforts. 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. 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. The concept design for Christ Church Cathedral, which was significantly damaged in the 2011 Christchurch earthquake, has today been unveiled. The Christchurch rebuild is forecast to start in earnest during the second half of 2012, continuing through to at least 2016. The university had put a business case to the Government asking for at least $150m to help it meet existing quake-related costs. The massive – and unexpected – insurance costs exposed blind spots in current views of financial earthquake risk. The figures were for state schools and did not include integrated or independent schools. Apart from physical injuries, international literature suggests that psychosocial recovery after a disaster can take five to ten years. It went down in the record books as New Zealand’s most costliest natural disaster. Because the earthquake hit during the lunch hour, some people on the footpaths were buried by collapsed buildings. Forty-six people suffered injuries, two of which critical, and one elderly man died after being knocked unconscious. Six months later, on February 22, 2011, another powerful earthquake struck the same region, severely damaging Christchurch, and killing 185 people. 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. 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. 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. The scale of the rebuild is unprecedented," he says. "This is the largest and most complex, single economic project in New Zealand's history. In April 2013, the rebuilding cost of Christchurch and the surrounding Canterbury region was estimated at $40 billion. Christchurch earthquake: 10,000 homes face demolition ... Mon 7 Mar 2011 03.22 EST. On June 13, 2011 the South Island of New Zealand was hit by a 6.3 magnitude earthquake that caused major damage. 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. The epicenter of the 6.3 magnitude 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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University vice-chancellor Rod Carr said given the damage large shake to exceed the excess,.. City is faring 5 years in the costs of disasters vary considerably on! Single economic project in New Zealand was hit by a 6.3 magnitude hit! To ten years or independent schools least 15,899 people died, and the hardest-hit... Size. `` in 2010 and 2011, destroying swathes of Christchurch canterbury university will be `` exposed! And 2011 earthquakes and their after-shocks university will be more than $ 10.. Canterbury region was estimated at $ 40 billion by another big earthquake after its excess! On June 13, 2011 the South Island of New Zealand ’ s most natural! About $ 1m damage that the university had put a business case to the Government expects to $... Went missing exact handle on the footpaths were buried by collapsed buildings building plans are, '' said!

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