The phrase “seismically compliant” is appearing on commercial real estate property signs, reflecting the fear many New Zealanders have of living or working in an earthquake-prone building.

City real estate agents say the threat of an earthquake is a key issue when people are investing in the property market.

“It’s the first question people ask,” says Graeme Diamond, Wellington CBD and Thorndon commercial leasing specialist.

“After the Christchurch quake, and because Wellington is on a fault line, people are paranoid.”

 “Seismically compliant” conveys the ability of a structure to withstand a seismic event, implying the building is considered structurally stable in the event of an earthquake.

Buildings assessed by council engineers that are above the legal limit of 33 per cent of the building code are not considered a risk.

However, the Society of Earthquake Engineers and the Institute of Professional Engineers recommend buildings meet at least 67 per cent of the building code.

Wellington City Council spokesperson Richard MacLean says the legal limit does not necessarily mean the building will be able to withstand an earthquake.

“Thirty-three per cent is widely considered to be not sufficient,” he says.

“In light of the Christchurch quakes, 33 per cent of the current code…it’s probably going to be superseded in coming years.”

Graeme Diamond says most people looking for property are aware of building codes and usually look for a rating between 66 and 70 per cent.

“They want to know where does the building rate, what its code is,” he says. “The highest compliancy is 100 per cent, and there are very few that are up to that.”

People who move to Wellington are drawn to older buildings with character, says Mr Diamond.

“They’re desperate for character accommodation, but ever since Christchurch, character comes with a risk.”

John McKenzie, director of investment sales at commercial real estate company CBRE, says that advertising seismic compliance is becoming increasingly common.

“Today it is,” he says. “In five years’ time, we may have gone past it.”

The Wellington City Council released an updated list of 219 earthquake-prone buildings under Section 124 of the 2004 Building Act in December last year.

Mr MacLean says that earthquake buildings are being constantly updated: “The list is being added and subtracted from all the time.”

The council’s earthquake-prone buildings project has been underway since 2006 and is due to be completed in 2013.

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