You must have heard about the latest report on risks of rising sea levels that was published by Australian Government a few days ago. To cut the long story short, it says that in the next 90 years a sea-level rise scenario of 1.1 meters looks very likely.
Many people are thinking of the climate change as something that will happen in the distant future, but the truth is we are living it now. The reason I brought up the issue of climate change here in Home I Own, where usually we discuss property-related matters, is because climate change must be taken into account when making property-purchasing decisions.
“OK, Chris” you say “so the sea levels might rise 1.1 meters by 2100, but what does it mean to us?”
Let’s begin with the big picture. On the country level, between 157,000 and 247,600 residential buildings might be at risk of damage from sea inundation, many of the ports (and therefore our import and export) might be affected and many of the recreational places such as marinas might suffer.
Not only the ports – but also the airports are at risk, as well as the power plants that are located within 500 meters of the coastline. What’s more, there are many police stations, hospitals and fire and ambulance stations located close to the coast.
The climate change risks include not only inundation, but also what scientists call “events of extreme weather” – cyclones and storm surges. They are originated over the ocean and the closer a property is to the coast line, the bigger its chances to suffer from cyclones.
On the state level, considering that 25% of Australian population lives in Victoria, we’ve got a significant number of buildings in coastal areas that is in danger of inundating and storms.
The areas at risk include bayside suburbs Chelsea and Aspendale, Altona (and the City of Hobsons Bay), Geelong, St. Kilda and Middle park.
In my next post I will write in more detail about each of the areas at risk, explaining about the problematic locations and what percentage of houses is likely to suffer in each location. Stay tuned!
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