Australia flood and sea-level rise risks

Australia is facing significant economic and structural threats from flooding and rising sea levels. Initial assessments indicate that over two million homes are exposed to flood risks, which could lead to a projected $42.2 billion decline in residential property values. The Insurance Council of Australia has noted that while approximately 225,000 homes face severe or extreme flood risk, only 23 percent of these properties are estimated to have adequate coverage. Local government initiatives, such as those in the City of Mandurah and the Shire of Murray, have begun implementing adaptation and conservation strategies to manage erosion and inundation.

Further research from the Climate Council and the University of Melbourne highlights a broader long-term crisis, estimating that rising sea levels and coastal flooding could threaten 267,000 properties and two million hectares of land. The total economic impact is projected to reach $855 billion by 2100. Queensland and New South Wales face the highest number of at-risk properties, while Western Australia is expected to experience the largest economic losses, estimated at $230.5 billion. The projected damage includes $274.3 billion in property losses and $580.7 billion in land damage, affecting farmland, recreational areas, and critical infrastructure.