New data released today paints a stark picture of how climate change threatens the heart of the Great Australian Dream — homeownership. The interactive Climate Risk Map, developed by Climate Valuation, now allows Australians to explore climate risks in their neighbourhoods, including flooding, bushfires, tropical cyclone winds, coastal inundation, and extreme winds.
Accompanying this tool is a national report titled At Our Front Door, which reveals that one in 23 homes and businesses — or 652,424 properties — are already at high risk from one or more climate-related hazards. An additional 1.55 million properties, or one in 10, fall into the moderate risk category, where insurance premiums are expected to soar or become inaccessible. The outlook becomes even more alarming under high-pollution scenarios, with the number of high-risk properties scheduled to double to over 1.3 million by 2100.
Most concerning, over 72,000 homes and businesses are situated in 86 suburbs now classified as “critical climate risk zones”, where up to 100% of properties may become uninsurable. Read More
News Credit: Climate Council
Picture Credit: Unknown (Due Credits)