Property owners fighting on the beaches as house values stall

Source: Daily Telegraph

THEY are the dying beach villages of the coast – towns that should be thriving but are instead facing slashed property values and stalled development because of overzealous sea-level-rise policies.

Councils on the NSW coast are clamping down on seaside development in the belief it would be irresponsible to build, with some claiming they are turning into ghost towns. Property owners have threatened councils with court class actions after fresh plans identified thousands of homes as in danger of becoming flood prone by 2100.

Gosford Council is even considering banning home extensions along its waterfront, while in the town of Lake Cathie land valuations have fallen more than $100,000 because of draft risk management plans under which hundreds of homes can be relocated. However, in a new move against climate-cautious councils, property holders could be given time-limited development approvals to be reviewed decades in the future when there will be more evidence of sea level rise.

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