Port Macquarie after a 7m sea level rise. Insurance risks affect property values now.

Port Macquarie with 7m sea level rise: Click to enlarge.

• We are looking more and more unlikely to prevent global heating.

• Scientists are predicting the melting of the ice covering Greenland  with a subsequent sea level rise of 7m.

• This rise does not factor in sea rise from the melting of Antarctica and other ice.

• Already many properties and infrastructures are likely to flood when a high tide is combined with high local rainfall. What were a hundred year rainfall events are now ten year events.

• The frequency of high rainfall events will increase with global heating and more and more severe hurricanes are predicted because of warmer seas.

• Low coastal areas will also be subjected to severe storm surges.

• Would you buy a property likely to be inundated in twenty years, fifty years, a hundred years? Many wouldn't. Even the perception of possible inundation will greatly affect property values. Insurers are already reluctant to insure many properties that were once only likely to flood every 100 years.

• When certain properties are in less demand their value falls.

• Would you buy a property with a value likely to fall?

•  The view of Port Macquarie above shows areas likely to be inundated by even a 7m sea level rise. Note the flooding of infrastructure and roads. Water supply will be affected. How could levees hold back such an onslaught?

• Property above a 10m rise will become highly sought after and will greatly rise in value. Property able to be accessed by road will increase in value but properties isolated by sea rise will lose value. New, costly road routes above the Hastings River floodplain will be required. Will NSW be able to afford to update all its infrastructure? Of course local government will be raising rates in an attempt to maintain infrastructure.

Isaac Cordal sculpture depicting politicians discussing global warming

Learn more about how sea rise inundation will affect Australian property.

Click here to go to Coastal Risk Australia site

Related: 'Retreat' Is Not An Option As A California Beach Town Plans For Rising Seas: NPR 

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  NASA: Earth’s vital signs: Sea level

  An indicator of current global sea level as measured by satellites; updated monthly.

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