A Climate Council study warns the value of Australian real estate could plunge over the next decade unless future governments have the political will to deal with climate change.The Climate Council estimates Australian real estate will lose $571b, or almost 9pc, of its value by 2030
That would wipe approximately 9 per cent of the nation's total residential property value — about as much as has been lost so far in the current property downturn, which is on track to be the worst in Australia's recent history. as many as one in 10 properties could become uninsurable by the end of this century due to climate changeClimate risk expert and report author Karl Mallon warned insurance companies were constantly updating their risk strategies, and could hike premiums to deal with extreme events such as rising sea levels, heatwaves and floods.
"Unfortunately this report shows there is a real cost of failing to act in the last four years," she argued. Various polls and surveys show climate change has risen towards the top of political issues at this election. Michael Slezak looks at how the parties' policies stack up.
When properties become swamps we'll have to take John Alexander's advice & move to higher ground.There are an awful lot of properties on low-lying ground around Oz. Will flooding be considered 'Acts of God? If not, don't buy insurance shares!
Wrong. But if it’s true. The properties were OVERVALUED
If the climate change council predicts property to go down then it is time to start buying more property. They have not go a single prediction right. Last week they said we had 10 years before the world will end. Do they just pick a new scare tactic every week.
W o l l o c k s !
If sea levels keep rising a lot of those rich people won’t have a mansion with a sea view they will just have a sea...how expensive will that be
Cannot put a price on a healthy planet. There is no elsewhere👍
Thats a flood ABC you are fake news.....the pacific islands are growong not shrinking. Left wing mouthpiece what happened to balanced independance news
Dont u get sick of peddling UN climatescam lies What a load of rubbish. Tim Flannery the scammer has bought a mansion seaside, the same as Al Gore. wakeup idiots
...they need to prove its climate change, which they can’t, they can only assume.
Mississipi n Houston r flooded yet again
Must read information! Don’t delay! Invest $9 and learn how to avoid $571 Billion dollars worth of property losses from real estate impacted by Climate Change. Auspol ClimateChange ABC
Well is that’s true my house will go up in value because I will be closer to the beach.
My old house was 300m to the beach and my new house is 2km to the beach. Kinda glad I moved further inland now.
FakeNews ClimateChangeHoax
auspropertyscam Banks are already onto this. With sea levels being destructive on property in coastal areas, & with a forecast SL rise of 1m or more inside of 50 years, the banks are seeking to have loan durations on affected properties reduced....just in case TheBankAlwaysWins
Who cares?
So what your saying if labor gets in all of a persons insurance goes up, car house personal. Using the climate to get rich, scam
Easily the most expensive scam in human history after organised religion.
Bullshit.
Show me the data that predicts this happening in the next 10 years.
Bwhahahaha, a Climate Council study! You may of well have asked The Ponds Institute. Bwhahahaha, stupid Leftards.
Can we afford to do nothing Mr Morrison?
Don’t tel Henny Penny, but the sky is falling too! Because the real goal of this is to “build climate concern” Thank you BjornLomborg
More BS from the FAKE NEWS MEDIA. wakeupAustralia JUST WAKETHEFOCKUP
Lol, I wish.
Climate change could (will) make the earth uninhabitable ¯\\_(ツ)_/¯
Not if you build a home that is climate change friendly
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