Rising seas threaten Australian farms and coastal property values

Since moving to the Clarence Valley in 2007, grazier Peter Lake has seen his 130-acre cattle property flood five times, leaving only a handful of acres safe during major events such as the 2022 flood. He now relies on relocating cattle to dry paddocks and storing feed, but drought and frequent inundation have prevented successful fodder production for years. A Climate Council report released this week predicts that by 2100 sea-level rise and storm surges could damage over 267,000 coastal properties and 2 million hectares of Australian land, costing $855.1 billion nationwide.

Queensland, New South Wales and Western Australia host the most at-risk homes, while the Gold Coast, Brisbane and Melbourne are identified as the most vulnerable cities. The study, co-authored by Prof Tom Kompas, warns that the $274.3 billion property loss and $580.7 billion land-use damage figures are conservative, excluding erosion and ice-sheet melt. Kompas urges immediate planning and adaptation, highlighting the need to stop building on floodplains as a first step.