Given that there are an awful lot of very expensive properties under threat from Climate Change the government is making changes to the laws around property. Once in place it will be interesting to see how the market responds to the changes...

https://www.nzherald.co.nz/environment/ditching-the-beach-ho
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oh_hunnihunni - 2021-03-12 11:10:00

It is not primarily climate change that is the issue. for millennia, the West coats on NZ have been slipping into the sea while the East side is rising (generally). This has been more consistent and with greater impact than climate change. Currently it is most evident on the central/upper West Coast of the South Island.

tony9 - 2021-03-12 14:23:00

Climate change is a whole lot more than sea level rise. Changing climate conditions also increases the level of storm surge as more of the country is predicted to be affected by more severe weather patterns. More storm surge in turn causes more coastal erosion, even in areas that are well above the sea level.

sparkychap - 2021-03-12 16:37:00

Exactly. It is going to take some effort to come to terms with it though when we look seriously at just how much property across the country could well come under this legislation.

oh_hunnihunni - 2021-03-12 17:19:00

The relocation will happen gradually as the insurance companies will no longer cover the properties. People move away and no-one wants to buy the sites.

masturbidder - 2021-03-13 17:00:00

My property is deemed to be in a flood zone. At the current rate of sea level rise, the sea will reach my house foundations in 1760 years.
I can easily raise my house. I have already done that in order to put new foundations in.
Catastrophic climate change is a scam.

trade4us2 - 2021-03-13 20:19:00

trade4us2 wrote:

My property is deemed to be in a flood zone. At the current rate of sea level rise, the sea will reach my house foundations in 1760 years.
I can easily raise my house. I have already done that in order to put new foundations in.
Catastrophic climate change is a scam.

Same here, it would take over 3,400 years for sea level rise to reach my doorstep, therefore it's a scam. The fact I'm at 40m elevation, over 1 km from the coast isn't relevent.

sparkychap - 2021-03-14 09:01:00

masturbidder wrote:

The relocation will happen gradually as the insurance companies will no longer cover the properties. People move away and no-one wants to buy the sites.

Problem is that people may not be able to move away. If no one can buy their seafront properties, they're often trapped there.

And it extends further than just properties along the shoreline - whole communities will be affected from increased flooding from inland sources (longer dryer spells but more concentrated, intense storms).

The question is what do we do about it and who pays? How much should councils spend of ratepayers money to protect people who have bought often very expensive (in urban areas) coastal property?

sparkychap - 2021-03-14 09:59:00

sparkychap wrote:

The question is what do we do about it and who pays? How much should councils spend of ratepayers money to protect people who have bought often very expensive (in urban areas) coastal property?

That's easy. The owners of coastal property should pay. They were stupid enough to buy the properties without consulting an expert (who could be sued if wrong).
My land is the most expensive in NZ, and I have raised it out of the "flood zone".

trade4us2 - 2021-03-14 22:10:00