Queensland's Property Nightmare – Are Politicians Ignoring a Climate Housing Collapse?

Australia is staring down a housing and insurance crisis as climate threats intensify, a landmark federal report has warned.

The National Climate Risk Assessment (NCRA), released this week, reveals that up to 185,000 homes in Queensland are now at 'very high risk' from floods, cyclones, bushfires and heatwaves.

Many of these properties could soon be uninsurable, sparking urgent questions over the role of government, the insurance industry and long-term planning.

The Alarming Numbers

The NCRA, Australia's first nationwide climate risk review, singles out Queensland as the country's most vulnerable state.

According to The Guardian, as many as 185,000 residential buildings could fall into high-risk climate zones if warming continues unchecked. Looking ahead, sea-level rise could directly impact 1.5 million Australians by 2050, underlining the scale of the challenge facing communities, insurers and policymakers alike.

Queensland is home to 18 of the 20 most at-risk regions across the country. Rising sea levels, extreme heat events and more intense storms pose what the report calls 'cascading and compounding risks' for communities.

The assessment also projects that climate-related disasters could cost the Australian economy tens of billions of dollars annually by the middle of the century, threatening the stability of property markets.

Insurance and Housing Market at Breaking Point

Insurance affordability has already become a pressing issue in northern Queensland, where premiums have risen sharply and some insurers have withdrawn from high-risk areas.

As reported by the Climate Council, entire suburbs could become effectively uninsurable within decades, leaving homeowners unable to protect their properties or secure loans.

The Climate Council has said the findings confirm a looming 'social crisis', warning that declining property values, unaffordable premiums and the prospect of managed retreat from vulnerable areas could hit families hard.

The Queensland Conservation Council echoed this view, urging immediate investment in climate adaptation and resilience measures to support at-risk communities.

Political and Policy Response

The federal government has framed the NCRA as a critical turning point. According to ABC News, Climate Change Minister Chris Bowen said the assessment was a 'wake-up call' that would shape Australia's 2035 emissions reduction target as well as a forthcoming National Adaptation Plan.

Much of the responsibility for adaptation falls to state and local governments, which oversee planning laws, land use and building standards. Councils in Brisbane, Townsville and other high-risk regions are already facing questions about how to protect residents from repeated climate shocks.

At the same time, debate continues over whether current political responses are sufficient. Critics argue that approving new fossil fuel projects undermines adaptation strategies and leaves future governments with higher costs and tougher decisions.

Regional Flashpoints

Queensland provides stark examples of climate risk in action. In Far North Queensland, residents face escalating threats from cyclones and extreme heat. Townsville has become a flashpoint for insurance concerns, with some households struggling to obtain cover.

Brisbane and the wider south-east region have seen repeated flooding in recent years, with new modelling showing that the risk of coastal inundation is set to increase as sea levels rise. These examples illustrate how the NCRA's warnings are already playing out on the ground, with significant consequences for property markets, infrastructure and community wellbeing.

Dissenting Voices and Unanswered Questions

Not all experts agree with the scale of the projected losses. Some economists have questioned whether the NCRA's financial estimates may be overstated, arguing that such long-term forecasts require cautious interpretation.

Others highlight the political contradictions. While the government has described the findings as a national warning, it continues to face criticism for supporting fossil fuel projects that contribute to global emissions.

For Queensland homeowners already facing rising premiums, the question remains whether policymakers are prepared to act quickly enough to prevent a housing and insurance collapse.