Our landscape under siege: 30 years in the life of NSW
The past five years, regions throughout NSW have endured the worst of nature can deliver – flooding, bushfires and coastal erosion. Deadly and devastating effects of climate events. Australian Conveyancer commissioned a ClimateIndex report from climate analysts Groundsure that predicts weather patterns for the next 30 years. The results raise alarm bells for many property owners.
THE natural environmental assets that make Australia one of the world’s most desirable places to live, also make it the most challenging.
In the past five years, large parts of the country’s populated areas have endured devastating bushfires, widespread flooding, and severe coastal erosion.
These climate events have taken lives, broken families and broken the hearts of communities, and they have been financially crippling for thousands.
And one community in northern NSW had barely cleaned the mess left by flooding late last year before it was inundated by another this year.
Lives, homes and businesses lost is what we all see.
But long after waters subside, bushfire are extinguished, and sea walls repairs costs continue to mount and will impact future generations.
The Australian Conveyancer Magazine commissioned a ClimateIndex report from climate analysists Groundsure that cast a light on the risk to NSW properties now and over the next 30 years.
Which regions and properties are most vulnerable to the forces of nature: are most prone to bushfires, flooding and coastal erosion?
The risks are real.
The impact on safety, development planning, land values and compliance are real.
Groundsure’s NSW ClimateIndex pertaining to land and property claims:
· 40 percent of all properties in NSW are now at moderate to high risk of flooding.
· The state’s so-called Black Summer bushfire of 2029-20 costs $4.9billion.
· Insurers have paid our $13billion in climate-related claims in NSW.
· The combine value of coastal properties exposed to coastal erosion damage is $25billion.
It says climate change risk to properties is a significant compliance issues for governments, the legal profession, conveyancers, insurers developers and homeowners.
The ClimateIndex suggests the risk of catastrophic loss, both financially and physically, will drive up insurance premiums.
Its 30-year projection of risk to all land lots in NSW anticipates areas prone to further damage by bushfire, floods and erosion using detailed global climate analysis tracking atmospheric and oceanic patterns.
Some suburbs and land lots will see reductions to risk from the elements due to favourable weather forecasts. Some regions will see no change at all. But for many the situation will worsen during the next 30 years.
Areas inundated by flooding today will continue to experience it over the next three decades, but the water levels may hit new highs.
It will be a combination of vegetation growth and increased frequency of lightning strikes in some regions that will drive risk of loss by fire.
The march of coastal erosion in some areas will be accelerated by changing temperatures and oceanic currents.
The long-range view is now prompting discussions and decisions by government departments, authorities and peak bodies.
About Groundsure
Groundsure is an environmental and climate data authority. Founded in the United Kingdom and with a presence in Australia, it provides land and property professionals with information about risks by climate. In the information can be used to inform values and transaction decisions.
