Property market unaffected by sea level report - agent predicts

Real estate prices are unlikely to be affected by Gosford Council's release of its 90-year projection of sea level rise, according to a local real estate agent.

Gosford Council will release maps on Wednesday showing a 91cm sea level rise by the end of the century - in line with CSIRO figures and a policy adopted by the Department of Environment and Climate Change.

The maps are expected to show that a large area of Woy Woy would be affected by such a sea level rise.

However, real estate agent Mr Greg McMullen, who is vice-president of The Bays Community Group, said "the climate change issue" did not seem to have any impact on waterfront property prices as yet.

"I think potential buyers and property owners are thinking significant rises in sea levels are a long way off to worry about.

"Other impacts such as the global financial crisis seem to be affecting sales more than anything at the moment."

Gosford mayor Cr Chris Holstein said it was important for the community not to panic when discussing the issues and affects associated with climate change and sea level rises.

"We want the community to be aware of the current information council has on hand from the experts into the future of the area," Cr Holstein said.

In releasing the maps, Gosford Council will not be proposing specific "management options".

Instead, it will seek comments and suggestions from the public before developing adaptive strategies.

Council's manager of integrated planning Mr Eddie Love said the public exhibition was the first stage for council to prepare for the possible effects of climate change including sea level rises.

"Council felt it was important to include the public with this issue right from the start which is why we have decided to hold the exhibition," Mr Love said.

"Community consultation and submissions will be sought throughout the exhibition.

"The exhibition also allows us to share information to the community and let them know where we are at in terms of the climate change issue.

"By sharing this information and identifying areas that are potentially vulnerable, we are able to work together with the community to respond and adapt to the effects of sea level rise."

Mr Love said low lying and waterfront properties found on the Peninsula at Woy Woy and Empire Bay as well as Saratoga and Davistown would most likely be affected by changes in sea level over the coming century."

"The information we have obtained indicates low-lying and areas already prone to flooding may be affected," Mr Love said.

Clare Graham, 7 Aug 2009 Interviewee: Eddie Love, Gosford Council Cr Chris Holstein, Gosford Council Greg McMullen, Greg McMullen Real Estate