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Australia: Fears sea-level policy may slash $1bn off property values

2013-05-31 16:00:00| Climate Ark Climate Change & Global Warming Newsfeed

Newcastle Herald: RESIDENTS fear Lake Macquarie City Councils controversial actions on the risks of sea level rise will wipe more than $1 billion off the value of properties. But some believe the loss could be worse, with homes worthless because they cannot be sold. Some say their properties already wont sell and insurance premiums are skyrocketing problems they blame on the councils sea level rise measures. But the council says changes in property values are a result of the global financial crisis,...

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