Climate change risk for Australian homes

CANBERRA: More than half a million Australian houses will be vulnerable to climate change and become uninsurable by 2030, a report published yesterday warned.

The report by the Climate Council found that one in 25 houses, or 521 000 total properties, will be effectively uninsurable by 2030.

In the 10 areas most vulnerable to climate change, five of which are in Queensland, the proportion of highrisk properties rises as high as 27%.

A property becomes “effectively uninsurable” when the premiums are so high as to be unaffordable to average homeowners. The Climate Council launched a tool with the report that shows Australians the threat of fires and floods.