Money Magazine

At home with disaster

As a kid growing up in Sydney’s northwest, we often used to waterski on the Hawkesbury River. The drive to Windsor took us through areas that often flooded after heavy rain. No matter – at the time it was mostly open farmland.

Fast-forward to 2022 and the Hawkesbury area has grown up. Newly built homes in the river’s surrounding suburbs often command million-dollar price tags.

The nature of the neighbourhood has certainly changed. But the lie of the land has not. Flooding still occurs in the area, though it’s not impacting empty paddocks anymore. In March, residents around the Hawkesbury, including relatively elevated areas like McGraths Hill, were ordered to evacuate as Greater Sydney experienced a devastating “rain bomb”.

The Insurance Council of Australia says the Hawkesbury-Nepean Valley has the highest single flood exposure in NSW, if not Australia. That’s because the river doesn’t fan out as it approaches the coast. Instead it’s hemmed in

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