Natural Disasters Increasingly Put Property Values at Risk

Experts at University of Waterloo warn that as natural disasters become more frequent, Canadian homeowners face greater risks.

Image: Mohamed Nohassi, Unsplash

Natural disasters are increasingly putting the value of Canadian properties at risk, with events like flooding in Toronto and wildfires in Alberta having a growing financial and emotional impact on communities.

Experts are now warning that as climate change makes extreme weather more frequent, Canadian homeowners face greater risks to both property values and personal safety.

A panel of researchers and policy leaders at the University of Waterloo stress that natural disasters have already cost billions in damages, and insurance premiums are rising sharply or becoming unavailable in some high-risk areas.

With many homeowners left unprepared for the financial fallout, municipal leaders say disaster recovery funds are not enough to address the scale of the problem.

“Canada’s property market is highly sensitive to risk, and as climate change accelerates, the risks to property values and insurance availability are growing."

— Jason Thistlethwaite, Associate Professor, University of Waterloo.

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