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Risk of sea level rise in Australia.

February 25, 2009

 As the price of beach front properties rise, so does the rise of sea level.

Planning Institute of Australia, Di Jay warns premiums will rise for properties at greater risk of flood to the point where many properties will become impossible to ensure.

“As the data around climate change continues to get firmed up and granulated down to a lower level, so that we’re much clearer about what the scenarios are for particular regions, we will start to see further increases in insurance policies.” Ms Jay said.

As an Australian resident myself, I understand that we have a huge desire to live on the beach and connect to our beach culture, that combined with increasing metropolitan congestion and the desire to live outside of our cities is putting  a growing level of pressure onto our coastal communities.

 Di Jay adds that she expects to see a change in the most sought out real estate locations.

“I think we will over time see areas a little further set back becoming more desirable in real estate terms as people realize the potential risks of those properties along the sea shore”  she said.

So, when will beach front property owners realize the potential risks of sea level rise?

The Intergovernmental Panel on Climate Change stated that sea level rise during the period 1990 and 2100 is projected to rise between nine and eighty-eight centimeters. 

With coastal regions having the highest population density in Australia, sea level rise is likely going to effect the lives of tens and millions. It’s just a matter of when.

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