Wellington’s unusually large stock of old houses is putting residents at greater risk from earthquakes, the Insurance Council has warned.
A survey run by the council has shown the capital has the nation’s largest stock of homes more than 75 years old, and the fewest residents living in houses less than 25 years old.
The figures were not a surprise, but would be factored into the premiums Wellingtonians paid for earthquake cover, Insurance Council of New Zealand (ICNZ) chief executive Tim Grafton said.
Wellington has the country’s highest percentage of homes built more than 75 years ago. (File photo)
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