Floods are estimated to be the most costly natural disaster in Australia. The average direct annual cost of flooding between 1967 and 1999 has been estimated at A$314 million (BTE 2001). Economic loss due to flooding varies widely from year to year and is dependent on a number of factors for example, flood severity and location. The most costly year for floods was 1974, with a total cost of A$2.9 billion (BTE 2001). Some major floods and their estimated cost in 1998 values (Agriculture and Resource Management Council of Australia and New Zealand, ARMCANZ 2000) include:
Brisbane floods, Summer 1974, A$700 million damage
Victoria floods, Spring 1993, A$320 million damage
Hunter River floods, 1955, A$500 million damage.
Flooding has a major impact on our communities. There have been ninety-nine recorded deaths from floods between 1967 and 1999 and 1019 recorded injuries (Bureau of Transport Economics, 2001). The impact of flooding be devastating, with the affects often extending beyond the zone of inundation, as can be seen in Figure 1. The floods in regional Queensland and NSW in 2001, for example, resulted in an increase in the cost of fruit and vegetables in Australia
