Estimating the impacts of beach erosion and cyclones on coastal property values: A Queensland case study (908)
Owing to a changing climate, research shows that natural hazards such as floods and tropical cyclones are becoming more frequent. In this paper, the impacts of natural hazards, particularly beach erosion and cyclones are examined. In Australia, approximately 85% of the population resides along its coasts. Due to the detrimental effects of beach erosion and cyclones, it is hypothesised that these impacts would negatively impact on the values of Australia's coastal residential properties. Employing Hedonic Pricing (HP) modelling, the paper attempts to quantify the impacts of beach erosion and cyclones on coastal property values in Queensland. Selected properties from Sunshine Coast and North Queensland subject to beach erosion and cyclones respectively are selected. The results show that while there was minimal impact on beach erosion on Sunshine Coast's coastal property values, the impacts of intense tropical cyclones on residential property values in Northern Queensland was significant. The results obtained from both analyses provide a justification for policymakers to understand the risks of beach erosion and cyclones to Queensland's coastal communities. Understanding these risks will enable policymakers to adapt and mitigate the damage from coastal hazards. This research could help inform adaptation and mitigation strategies