Is your coastal property at risk of being wiped out by climate change?

Coastal properties worth over $60 billion are now at risk of being destroyed by rising sea levels within the next century, according to the worst-case scenarios played out in a recent Federal Government Report.

The report comes after Byron Bay residents have fought with the Bay’s council over the rights to protect their properties from storm and sea damage, with the Federal Government stepping in to grant property owners protective rights.

The report, which comes as Parliament is scheduled to debate the emissions trading scheme legislation this week, has investigated the effects of a 1.1 metre rise in sea levels over the next century on Australian towns and cities near the coast.

While the study admits a one-metre rise is a “worst case scenario”, it nevertheless says the estimate is “plausible”.

“Based on the recent science 1.1 metre was selected as a plausible value for sea-level rise for this risk assessment. It is important to note that the purpose of a risk assessment is to identify areas of risk and therefore plausible worse-case scenarios need to be considered.”

The “Climate Change Risks to Australia’s Coasts” report found between 157,000 and 247,600 properties are at risk of destruction due to coastal erosion and rising sea levels, with much of the proposed destruction to occur along the eastern coast.

NSW has been labelled as the state with “the greatest exposure”, with between 40,800 and 62,400 residential properties at risk, followed by QLD with up to 56,900 and VIC with up to 44,600 properties at risk.The value of properties at risk in the state is between $12.4 billion and $18.7 billion, with Lack Macquarie, Wyong, Gosford,

Wollongong, Shoalhaven and Rockdale the highest populated areas, representing 50% of the buildings at risk. Newcastle is also expected to be hit with widespread residential property damage.

In QLD, Moreton Bay, Mackay, the Gold Coast, Fraser Coast and Bundaberg have been labelled the areas with the highest risk, representing 85% of all buildings “at risk of inundation”.

Victorian residential areas at risk include Kingston, Hobsons Bay, Greater Geelong, Wellington and Port Phillip, with the cities representing 70% of all properties at risk.

The report recommends governments must introduce new planning laws that will restrict where property developers can build new projects.

“Australia needs national standards and benchmarks to constrain future risk and address exposure of existing assets in the coastal zone. Clear planning rules and guidelines that defy new no-go zones for certain types of development must be shown in planning instruments and guidelines.”

“Priorities include setbacks and sea-level benchmarks for different risk standards, and planning horizons that take into account the link between climate change and coastal geomorphology.”

Additionally, the report also warned about the effects of rising sea levels on businesses, saying most of Australia’s industry takes place in or passes through “the coastal zone”.

“Climate change will increase a number of risks faced by industry, and bring new risks to some industries not previously exposed,” the report said. It pointed out the tourism industry as being the sector most likely to be affected by climate change.

“Australia’s tourism industry is particularly vulnerable to the effects of climate change and sea-level rise. Many of our tourism icons such as the Great Barrier Reef and coastal islands and beaches are in regions that are likely to be affected by storm surge, sea-level rise or increased cyclone intensity.”

Altona, VIC:

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