3 May 2022

REINZ on coastal property values as seas rise

From Morning Report, 6:17 am on 3 May 2022

Heavy demand from homeowners going to the new SeaRise website to check the status of their coastal property led to the site crashing.

It was also shut down briefly due to a cyber attack. SeaRise's grim new climate change analysis is bad news for coastal property - water is now predicted to seep 30 centimetres higher in 15 to 18 years.

With Insurance companies ruling out paying for the cost of rising seas what will happen to properties under threat and will prices plummet.

Real Estate Institute chief executive officer Jen Baird spoke to Corin Dann.