New study backs coastal property value warnings
1 May 2017
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St Heliers in the 1920s |
THE Insurance Council’s prediction that climate change-induced rising sea levels will burst the property bubble has been backed by a new report.
In October, Insurance Council chief executive Tim Grafton told the Climate Change and Business Conference that rising sea-levels would affect the ability to insure some Auckland properties, and therefore the ability of potential purchasers to raise mortgages against the properties.
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Story copyright © Carbon News 2017
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