Canterbury Earthquakes Residential Issues

2012 was a much quieter year in Canterbury, at least in seismological terms. The last earthquake of any magnitude was in December 2011. The dwindling sequence of aftershocks has given insurers and builders confidence to move ahead with the settlement of claims by reinstatement. It is also fuelling increasing frustration by policyholders at the slow pace with which building is occurring.

The Canterbury Earthquake Recovery Authority (CERA) made a series of announcements over the course of the year, zoning properties into red and green. Those zoned red are subject to the Crown offer to purchase, at 2007 rating values, with the threat of compulsory acquisition for those not wanting to sign up.