Noosa Council’s ‘less than 1%” CHAP unjustifiably proposes adverse planning changes that will harm our homes.
High levels of concern as reported in the Australian Financial Review23rd April 2021
“Geoff Wilson, chairman and chief investment officer of the ASX-listed Wilson Asset Management, is taking on one of Australia’s richest local councils, claiming its extreme climate change planning will wipe millions of dollars off property values and send insurance costs higher…….
‘’The council’s proposal was disappointing and illogical,” Mr Wilson told AFR Weekend.”
“The council proposal does nothing to protect the local environment and adversely impacts a number of communities at a significant economic and social cost.”
“If adopted, any Australian community would be at risk of the precedent and the costs could amount to billions of dollars.”
“He notes that the council has formally notified the state that the Planning Scheme will be amended to address coastal hazards, and that this notification indicated amendments would involve “adverse planning changes” or those that would “reduce the value of affected properties.”
“Council faces the real and material prospect of claims from owners and residents of premises in the Noosa coastal zone, including the Eastern Beaches, either individually or through class action, and having to pay compensation arising from the proposed adverse planning changes that will encroach on vested property rights and impact on the value and insurability of residents’ and owners’ homes, premises and assets.”
Nick Hluszko: “Nick Hluszko, who runs the Noosa North Shore Association, said the council’s adaptation plan had taken only the very low-probability, worst-case scenario and not other best-case scenarios when it came to modelling the impacts of climate change and how to mitigate risks.”
“What council in its draft plan has not disclosed is that it has used language and forecast data for very low probability, ‘worst case’ scenario outcomes,” he said.
“This is dangerously misleading to the public in our view.”
”While it is recognised that ‘scare tactics’ are at times the only way to motivate populations to make change, council still has an obligation to communicate the percentage probability of any of the forecast scenarios so that the community can consider all matters on balance as opposed to being presented with only one possible outcome.”
Tom Offermann: “Sunshine Coast real estate agent Tom Offermann is also nervous about the adaptation plan.
“It is difficult for me to comment because I respect the council but I have a lot of clients who are concerned about the impact on property values,” he said. “Hopefully council don’t just look at worst-case scenario and take a balanced approach instead.”
Peter Butt: Another former real estate agent, Peter Butt, said council should be managing the adaptation planning process much more reasonably or property values would take a hit.
“If a precedent is set to have adverse planning changes on private property it will have a huge impact on insurance, property values, re-mortgaging and land tax which will be a hit to state government revenues,” Mr Butt said.