By answering some simple questions about the house you will help our computer model to estimate the potential impacts of coastal inundation across a number of scientific projections of potential sea level rise, over the course of a typical 30-year mortgage. Once you've submitted the form you will receive an email with our Climate Valuation report attached.
The whole process will take up to 15 minutes.
It is important that you understand what the House Check tool does and does not do.
Our proprietary Coastal Inundation Model provides a generalised model of coastal inundation risk within a range of climate change futures (all else being equal), based scenarios developed by leading scientific bodies. The Model provides a more detailed analysis of potential coastal inundation risks than a consideration of sea level rise estimates alone. It applies leading scientific estimates of a number of potential sea level rise scenarios to other scientific data and/or proxies relating to wave pass-through, tidal factors, elevation and tectonic movements (where that data is available and applicable).
You can find out more about the scope of the data inputs used in each category via their hyperlinks. There are other effects that need to be considered, and you will need to know about before continuing
Please do not be alarmed if the results you receive indicate a potential significant change in value over the term of the mortgage. There may be things that you can do to make the property less vulnerable, or that the council can do to reduce the hazards. We can provide contact details for organisations that can provide adaptation advice and finance.
Please fill out the fields below to get a report for the property.
Other Risk Impacts
As outlined above, the House Check tool considers certain risks associated with coastal inundation under a number of leading scientific sea level rise scenarios, all else being equal. Of course, science is not able to definitively predict the exact range or rate of future climate change, or the scale and rate of the rise in sea levels that result from it. Many variables will determine society's emission of 'greenhouse gases' (including political, regulatory, technological and behavioural factors), and how the Earth's natural systems respond. Accordingly, we can make no prediction or representation about the likelihood of any climate change (or sea level rise) scenario from eventuating.
In addition, although coastal inundation is a key climate change risk factor, it is by no means the only factor relevant to the total exposure of a property to the potential impacts of climate change. Other (or compounding) climate change impacts may result from factors that are not currently modelled by the Climate Valuation tool, such as (for example) changes in precipitation patterns and extreme rainfall, inland flooding (ie from rivers, estuaries, canals and other inland water bodies), erosion, landslip, or the impacts of drought or bushfire. In addition, the Model does not take into account the impact of any built infrastructure, modifications, adaptations or resilience-building measures (public or private) that have been, or may be, applied that reduce (or exacerbate) the relevant coastal inundation impacts, nor the availability or coverage of insurance. You should seek independent and specific advice on the potential impact of these factors on the subject property, and consult an insurance broker or adviser in relation to insurability. Further information around the scope and limitations of the House Check tool are available in the Terms of Service.
Wave Setup multiplier
The additional height above the still water height (which includes tides, storm surges, etc.) caused by near-shore breaking wave height. This values is affected by multiple factors, including sea-floor slope and roughness, swell angle relative to the coast, and the shape of the surrounding coastline. It is often quite difficult to estimate, but typical values range from 10-15% of Significant Wave Height. We use a default of 15%, based on estimates from McInnes et al (2012) and WMO, (1998).
Damage from Flooding as a % of the Replacement Value
Estimated home damage per flooding event (% of house replacement cost) (user estimate, default proxy). Note that the 20% default proxy is based on Middleman-Fernandes (2012), which provides damage curves for flooding. Actual damage will vary depending on the unique circumstances of the property and inundation event.
Mortgage rate (interest only, precent).
Mortgage Rate of an interest only loan over 30 years starting today is defaulted to Commbank.com.au (2018). Standard Variable Rate home loan - CommBank. We use a interest only loan because we set the amount available to the owner is the same as this rate would predict. If damage happens to the property this cost comes out of the same fund and therefore leaves less available to service the loan.