A new report has revealed the 86 suburbs across where more than 80 per cent of properties could soon become impossible to insure.
The suburbs are currently considered ‘high risk’ of becoming unaffordable or uninsurable due to the risk of climate-related damage.
Climate change and its impact on n communities is becoming increasingly apparent due to extreme weather events.
The data, commissioned by the Climate Council and Climate Valuation, has labelled several areas across as ‘Critical Climate Risk Zones’.
When extreme weather events, including flooding, tropical cyclones and bushfires, hit these areas, the level of damage to infrastructure including homes, schools, businesses, and health facilities is likely to be severe.
Climate Valuation looks at the costs of predicted extreme weather damage relative to the replacement cost of the average home.
Almost half of the 86 suburbs were in New South Wales.
The data lists 42 NSW suburbs, such as Ballina near Byron Bay, where 99.03 per cent of the 8,910 properties located there are high risk.
CEO of Climate Valuation (part of The Climate Risk Group), Dr Karl Mallon told Daily Mail climate change is ‘threatening entire communities’.
‘Our data draws on 15million commercial and residential properties in over 15,000 n suburbs and 150 electorates,’ he said.
‘The numbers show us that climate change is not a far-off future event: it threatens entire communities today.
‘Most alarmingly, our analysis has identified 86 critical climate risk zones requiring urgent and major government interventions, such as flood levies, buy backs or other measures.
‘It is imperative that decision makers at all levels look seriously at the stark statistics presented here and work to address questions head-on: What adaptation action are all levels of government going to take now to protect our vulnerable communities?’
‘And, how will this be financed?’
In addition to the 86 suburbs identified as ‘high risk’, the report has claimed there are more than half a million properties at risk of following suit without investment.
In the report, ‘s Critical Climate Risk Zones are defined as suburbs where at least 100 properties are located, and 80 to 100 per cent of all those properties (commercial and residential) are classified as High Risk Properties (HRP).
Locations with fewer than 100 properties have not been included in the list of suburbs.
Is your suburb in a critical climate risk zone? Find the full list below.