Intact Centre on Climate Adaptation

Flooding cuts 8.2% off average Canadian home sale prices, says study

Flooding cuts 8.2% off average Canadian home sale prices, says study

Flooding in Canada experienced in the last decade cut an average of 8.2 per cent off the sale price of homes in several markets, says a new study. The Intact Centre on Climate Adaptation at the University of Waterloo studied several floods that occurred between 2009 and 2020 in Grand Forks in British Columbia; Burlington, Toronto and Ottawa in Ontario; and Gatineau in Quebec. Data suggests that houses selling last December for an average price of $713,500 would instead go for $654,993, once hit by a flood, reflecting a loss of $58,507, says the study that was partially funded in part by Canada Mortgage and Housing Corp.

From tree maintenance to simple hardware store upgrades, here's what you can do to prepare for climate change

From tree maintenance to simple hardware store upgrades, here's what you can do to prepare for climate change

She said some preparations are as easy as a trip to the hardware store. "Make sure your eavestroughs are clear and your downspouts allow water to flow away from your foundation. Put valuable things or potentially toxic items up on a basement shelf, so they don't get damaged or contaminate water." Lou Di Gironimo, general manager of Toronto Water, says storms have become more severe over the past few decades and the city has invested billions of dollars in flood mitigation programs.