To date, the combined events have cost private insurers more than NZ$21 billion. EQC has paid a further $10 billion, bringing the total insured cost of the event to more than $31 billion. Total economic losses for the entire sequence are estimated to be more than NZ$40 billion.
What impact did the Christchurch earthquake have on the economy?
Impacts on the built and economic environment. The September 2010 earthquake caused an estimated repair and rebuilding cost of about NZ$5 billion, and the financial markets were largely unaffected [41].
How big was the Canterbury earthquake?
On 22 February 2011, a 6.3 magnitude earthquake struck Christchurch shortly before 12:50pm at a shallow depth of four kilometres. Several aftershocks were reported, some registering at a 5.6 magnitude.
What was destructive in the Canterbury earthquakes of 2010 and 2011?
It caused widespread damage across Christchurch, killing 185 people, in New Zealand’s fifth-deadliest disaster.
2011 Christchurch earthquake.
| Damaged Catholic cathedral two months after the earthquake | |
|---|---|
| Local date | 22 February 2011 |
| Local time | 12:51 p.m. NZDT |
| Magnitude | 6.2 Mw 6.1 Mw |
| Depth | 5 km (3.1 mi) |
How much did it cost to rebuild Christchurch after the earthquake 2011?
Several hundred suburban facilities have been repaired and rebuilt across the city, including heritage buildings, libraries and community centres, at a cost of more than $150 million in the decade since the devastating Canterbury earthquakes.
How much did Christchurch earthquake cost?
Cost of the event
Total economic losses for the entire sequence are estimated to be more than NZ$40 billion. At current premium rates, it would take private insurers around 40 years to pay off the cost of the Canterbury earthquake sequence provided no other earthquake claims were received in that time.
How did the Christchurch earthquake affect people?
The 22 February 2011 earthquake caused 185 fatalities, injured 3,129 people, and 1,293 were injured in the aftermath. Apart from physical injuries, international literature suggests that psychosocial recovery after a disaster can take five to ten years.
What are the 5 largest earthquakes ever recorded in NZ?
These major quakes have struck New Zealand since 1931:
- Wairarapa, 1942 (7.2 and 6.8). These two earthquakes caused damage in Masterton, Wellington, and other centres.
- Inangahua, 1968 (7.1).
- Edgecumbe, 1987 (6.3).
- Canterbury, 2010 (7.1) and 2011 (6.3).
- Kaikōura, 2016 (7.8).
What was NZ biggest earthquake?
The biggest known earthquake in New Zealand was the 1855 magnitude 8.2 in the Wairarapa; around 5,000 km2 of land was shifted vertically during the earthquake. The largest earthquake recorded in the world in the last 100 years was the 1960 magnitude 9.5 earthquake in Chile.
What was the biggest earthquake UK?
The North Sea earthquake of 7 June 1931, with a magnitude of 6.1ML and with an epicentre offshore in the Dogger Bank area (120 km NE of Great Yarmouth), is the largest known earthquake in the UK.
How long did the 2010 Canterbury earthquake last?
40 seconds
The quake was felt as lasting up to 40 seconds, and was felt widely across the South Island, and in the North Island as far north as New Plymouth. As the epicentre was on land away from the coast, no tsunami occurred.
What caused the Canterbury earthquake?
The earthquake was caused by the rupture of a 15-kilometre-long fault along the southern edge of the city, from Cashmere to the Avon–Heathcote estuary. The fault slopes southward beneath the Port Hills and did not break the surface – scientists used instrument measurements to determine its location and movement.
When was NZ last earthquake?
Earthquakes in New Zealand since 1950
| Date | Region | Magnitude |
|---|---|---|
| 06/18/2020 | South Of, Raoul | 7.4 |
| 06/15/2019 | South Of, Raoul | 7.2 |
| 11/13/2016 | Amberley | 7.8 |
| 09/01/2016 | Gisborne | 7.0 |
How long did it take to clean up Christchurch earthquake?
The ‘army’ organised thousands of students to help clean up quake debris in affected properties and streets. In two weeks they shovelled away 65,000 tonnes of liquefaction.
What was the cost of damage in the Christchurch earthquake 2011?
For the insurance sector, the cost from the Christchurch earthquake is currently put at USD 17.2 billion for the February 2011 event and close to USD 25 billion for all three events combined (Swiss Re Economic Research & Consulting).
Is Christchurch still recovering?
While the road to recovery has been long, and there is still much to be done, Christchurch has risen from the ruins. It is now both New Zealand’s oldest city, as well as its newest. “The city has changed completely,” says Adam Hollingworth CPA, who is an academic at the Ara Institute of Canterbury.
How much did it cost to fix Christchurch?
Largest economic undertaking in NZ’s history
To give you some idea of that scale, in the May Budget the Government increased the total estimated cost of rebuilding Christchurch to around $40 billion from the previous estimate of $30 billion.
How much did the 2011 earthquake cost?
The World Bank’s estimated economic cost was US$235 billion, making it the costliest natural disaster in history. According to a 2020 study, “the earthquake and its aftermaths resulted in a 0.47 percentage point decline in Japan’s real GDP growth in the year following the disaster.”
Why was the Christchurch earthquake so strong?
The waves are attenuating, or propagating, toward the surface. Christchurch was a very shallow earthquake, and that’s a reason why the damage was much worse than the earlier one.
How big was the Christchurch earthquake?
At 12.51 p.m. on Tuesday 22 February 2011, a magnitude 6.3 earthquake caused severe damage in Christchurch and Lyttelton, killing 185 people and injuring several thousand.
How many houses were damaged in the Christchurch earthquake?
Earthquake damage
Up to 100,000 buildings were damaged and about 10,000 buildings needed to be demolished. Christchurch was divided into four zones after the earthquake.