Realty +: Australia & New Zealand Property Markets Face Climate Risk

Read full article here: https://www.rprealtyplus.com/international/australia-new-zealand-property-markets-face-climate-risk-115818.html

"Natural disasters could wipe about A$800 billion off Australia’s housing market by 2030 or about 6.7% of the total value, climate risk specialist XDI said in data shared.

In New Zealand, around 20% of houses are on floodplains, according to research by Climate Sigma.

“Can the economy ride that out? Maybe. Will certain communities suffer more than others? Yes. So you might have very significant community impacts,” said Karl Mallon, director of science and technology at XDI."

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