Finance
Property Value at Risk in Australian Climate Hot Spots, RBA Says
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Some property in parts of Australia exposed to climate change and wild weather could experience valuation declines that leave lenders with less protection in the event of a default, according to Reserve Bank research.
About 3.5% of dwellings in Australia already fall under an international definition of being at “high risk” from climate damage, RBA economists Kellie Bellrose, David Norman and Michelle Royters said in a research paper.