A Groundsure ClimateIndex report, available via InfoTrack, has revealed the NSW suburbs most impacted by coastal erosion both now and into the future, ensuring homebuyers are well aware of the dangers of buying up in the suburbs.

ClimateIndex is a tool which assesses coastal erosion, flooding and bushfire data to rank suburbs from most at risk to the least. It is even able to project the rankings for 30 years into the future.

Port Stephens, Cronulla, Palm Beach on the northern beaches and Yamba are regarded as four of the most at-risk locations both now and into the future. The prestigious Vaucluse and north coast hotspot Byron Bay are also at risk.

The likes of Wamberal, Old Bar, Batemans Bay, Sndringham, North Arm Cove, Corlette, North Shore and Booker Bay are currently at risk of coastal erosion, but should see risk levels subside in future. That said, Groundsure believes that rising sea levels, increased storms and other El Nino/La Nina could easily change that.

Groundsure CEO Dan Montagnani believes that house prices won’t alter with this new information, but believes another major factor will come into play for homebuyers.

“Climate change is already considered a Tier 1 risk by lenders on the impact to investment and value, and homeowners in some affected locations are already living with the consequences through higher insurance premiums,” he says.

InfoTrack hopes that the reports provided by GroundSure will see resilience improved via infrastructure within at-risk suburbs, despite risks of less home loan and insurance approvals. The company’s Global Head of Property, John Ahern says the reports are able to be made property-specific as opposed to broad ratings.

“They are specifically designed for property lawyers and conveyancers to do their due diligence and better inform buyers,” he says.

“Until now, climate change has not been front of mind, but a new generation of homebuyers is demanding insight on risks, to consider the potential long-term impact for their families and financial security.

“Homebuyers have a right to know what could lie ahead as they make the most expensive financial decision of their lives.”

Architecture & Design Team

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