Government climate risk assessment outlines bleak future for Australian heatwaves, property values

Extreme climate change could drive hundreds of billions of dollars in losses to Australian property values over the coming decades, according to a long-awaited Government risk assessment, which also warns of more extreme heat wave days.

Australia’s first National Climate Risk Assessment has been released, predicting coastal flooding could occur as often as 193 days each year by 2090, with sea levels expected to rise by more than half a metre.

The report finds that “current hazard proneness is most pronounced in northern Australia (WA North, NT and north Queensland), particularly north-western Australia”.

“Communities in northern Australia – including the Northern Territory, Queensland north, and Western Australia north – are exposed to multiple climate hazards, including heatwaves, floo