In a worst-case scenario, extreme weather could hit property values by more than $570 billion. Photo: James Gourley/AAP PHOTOS

Home buyers are still willing to pay top dollar for waterfront views and bush frontage but a landmark report suggests it won't always be the case.

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Riverine flooding, coastal inundation, bushfires, wind storms and droughts that can crack walls will eventually catch up with property markets, according to Australia's first-ever national assessment of climate risks .

Under a worst-case scenario, extreme weather events are estimated to hit values by $570 billi

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