Will predicted sea rise inundation affect property values in Newcastle, NSW?

• 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.

"The Antarctic ice sheet, most of which is in East Antarctica, is Earth’s largest freshwater reservoir. If it all melts, it could lead to a 60-meter rise in global sea levels. Current predictions estimate global sea levels will rise one meter by 2100 and more than 15 meters by 2500." SciTechDaily

• Already many properties 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 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.

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

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

Predicted flooding of Newcastle, NSW, with a conservative 1.4m sea rise

•  The view of Newcastle above shows areas likely to be inundated by a conservative 1.4m sea level rise.

• Property above a 10m rise will become highly sought after and will greatly rise in value.

 
 

Predicted flooding of Newcastle, NSW, with a 10m sea rise

•  The view of Newcastle above shows areas likely to be inundated by a 10m sea level rise.

• Property above a 10m rise will become highly sought after and will greatly rise in value.

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

Original article by wewantclimateactionnowblogspot.com.au

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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These appear to be the current planning guidelines for sea rise in NSW. Many scientists would say they are too conservative.

"Sea Level Rise Planning Benchmarks This Guideline adopts the NSW sea level rise planning benchmarks in the NSW Sea Level Rise Policy Statement (2009). The NSW sea level rise planning benchmarks are an increase above 1990 mean sea levels of 40cm by 2050 and 90cm by 2100. These benchmark figures were established by considering the most credible national and international projections of sea level rise for the NSW coast and take into consideration the uncertainty associated with sea level rise projections. These benchmark figures are to be used in NSW when planning for sea level rise.

NSW Coastal Planning guideline: adapting to Sea Level Rise August 2010 " 

 

Newcastle with a 0.7m sea rise by 2100, below the 2010 official government planning estimate of 0.9m.