Do not covet that beach-front property anymore...
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... I often told friends that with global warming and the resultant rise in sea levels, it might not be that wise an idea to own a beach-front property because sooner or later, it might become marshland.
True enough, in today's The Age newspaper (Victoria), there's an article discussing this issue and here's the article :
Beach house prices under threat
- Royce Millar
- June 28, 2008
COASTAL property prices could plunge and seaside development projects could be abandoned as the State Government toughens its stance on climate change amid fears of surging seas and storms.
Well-placed sources confirm that the Government's draft coast strategy has been reworked to lift the expected rise in sea levels. This is likely to scuttle housing projects in low-lying areas that are on the drawing board or awaiting approval.
The strategy, which will give planning guidance to all councils along the 2000-kilometre coast, will be controversial once its implications are absorbed by the state's property market.
By designating vast new areas as flood prone, the new planning policy, devised by the Government-appointed Victorian Coastal Council — is sure to drive down seaside property prices, including in some of Victoria's most sought-after locales.
A November draft of the strategy used the findings of the Intergovernmental Panel on Climate Change and the CSIRO to propose that planners should factor in a sea level rise of between 40 and 80 centimetres over the next 100 years.
Sources say the final version, due soon, will be tougher, with an 80-centimetre rise a minimum. It does not take into account the little understood impact of melting polar caps and glaciers, nor the compounding effects of extreme storm events.
Pressed about the draft strategy, coastal council member Rob Gell said the new 80-centimetre figure was acceptable as a "best-case scenario".
Mr Gell, a coastal geomorphologist and former Channel Ten weather presenter, said local councils were the "meat in the sandwich" on climate change, caught between the interests of property owners and developers on one hand, and those of the wider community and environment on the other.
"Someone's going to be looking for a scapegoat. 'Who am I going to prosecute? Who am I going to get some money out of?' " he said.
Mr Gell called on councils to minimise their risk and obligation by planning realistically for climate change and disallowing development in vulnerable locations.
The firming of government thinking over just six months is symptomatic of the fast-moving climate change debate as scientific studies leapfrog one another with ever more dire warnings.
A series of proposed developments along the coast from Port Albert to Port Fairy now appear to be in doubt.
Mr Gell said rising sea levels and storms would lead to major flooding, including in the heart of Melbourne, well before 2100.
This week a report by the CSIRO and consultants warned that a sea level rise would "undoubtedly" affect Western Port's low-lying coastline, with the townships on Phillip Island, Tooradin, Warneet and Hastings most at risk.
It highlighted risks to the local penguin population, one of Victoria's most popular tourist attractions.
Environment Minister Gavin Jennings is expected to release the coast strategy in the coming weeks.
http://www.theage.com.au/national/beach-house-prices-under-threat-20080627-2y50.html
It's time to build our Club 30 Noah's Ark!
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it's my dream home but i can never make it anyway
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i want one on mountain, and live my life like Heidi
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Errr I never wanted beach front property for the only reason that wear and tear of the house is very fast
Like Ah Lau I would rather have one at the edge of the Woods/Forest near some mountains with open fields and a nice stream :) or lake
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u see those HDB by the east coast park dere? marine parade side.
rising sea level sure wont harm HDB flats right? LOL
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but those clift side hawaii properties are fine right ..
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if anyone wants to throw away their beach front houses can pass to me kay?
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Build a house on stilts that's even higher than those kelong.
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Next time make a house that floats, rises and falls with the sea level.
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Originally posted by laurence82:
i want one on mountain, and live my life like Heidi
can buy some prime real estate on the roof of the world, tibet.