Friday, May 21, 2010

Residents furious as home values threatened

Get ready to see more of this. By Terry Collins in the Gosford Express-Advocate (Australia): The value of thousands of waterfront homes has been slashed with the stroke of a pen. That is the view of residents who last week received letters from Gosford Council telling them their homes were likely to be affected by sea level rises of up to a metre over the next 90 years.

About 7500 letters have been sent out to owners of beachside properties and those fronting Brisbane Water and some of its tributaries. The sea level rise information will also be attached to section 149 planning certificates which are crucial documents issued by councils when properties are bought or sold.

Davistown home owner Pat Aiken described the move as “thoughtless and incompetent”, causing “house values to plummet overnight”. Mr Aiken said the council’s decision to attach information to S149 certificates for properties affected by forecast sea levels for the year 2100 could send property values plummeting.

“There has been no consultation regarding placing this information on a document that has the potential to totally write off the value of any affected property overnight,” Mr Aiken said. “They have put a policy in place for a forecast 90 years from now which dramatically affects thousands of people from today. Yet the council has no relevant strategic plans with respect to management of sea level rise for the area. At the stroke of a pen they have demonstrated their duty of care to potential buyers of these properties and yet have not even considered the impact of this decision on their ratepayers.”…

Map of New South Wales with Gosford City highlighted, by Bill da Flute

1 comment:

Anonymous said...

We live in Davistown and received one of these letters and we are NOT on the waterfront. We built our home 5 years ago and adhered to Council's demands and had it raised over 1 metre but we still received this letter. We are furious and thinking of getting legal advice and taking up a class action against Gosford Council.