Posted: 18 November, 2016 by Sohan Judge

Sydney Homeowners Could Face Property Value Decline And Here’s Why

Does this affect you?

Tags: Sydney, property, home, hoe, owner, value, market

Those lucky enough to actually own a home in Sydney are facing a blow, with their property value set to decrease.


Sydney-based consultants Climate Risk say due to climate change, coastal homes could reduce in price as the risk of increasingly extreme weather events grow.

Dr Karl Mallon said the main problem is “you can build a house which is insurable tomorrow, but is wholly unsuitable 30 years down the track.”

In a recent report, it was said that Australia is highly vulnerable to “storm surges associated with tropical cyclones and extra-tropical cyclones, including [more intense] east coast lows.”

Dr Mallon also explained that changes in property value occurs when the market realises the event will occur and revalues the house, not when the event actually takes place.

Things You Wish You Could Say To Your Landlord

Also See

Sydney’s Getting A New Ferry Fleet & Here’s What It Will Look Like!

The first of Sydney’s new ferry fleet is due in Sydney very soon!

Experts Say There’s A New Hotspot In NSW That Will Take Over Sydney

Sydney is great and all, but when the median house price is over $1 million, you can’t help but wonder if you'll ever actually be able to afford a home.

Residents In Sydney’s West Forced To Sell Their Homes

Home owners in Sydney’s west may be forced to sell their houses to make way for the Parramatta light rail line.

Tags: Sydney, property, home, hoe, owner, value, market

To Read Next