Attitudes of Property Owners to Climate Change Considerations and Their Effects on Future Property Values in Coastal Communities

Abstract

The purpose of this study is to examine property owners’ attitudes regarding the impacts of climate and weather on property ownership and future property values in Currituck County, North Carolina, and determine whether their attitudes vary according to property owner groupings. The study profiles the segments using a factor-cluster grouping approach that identifies three property owner clusters. These clusters represent various perceptions of property owners toward the effects of climate on property ownership and future property values. A comparative analysis is then conducted among these three property groups, resulting in significant differences being found between them in terms of both attitudinal and demographical variables. Group One respondents believe climate and weather affect property ownership and property value, are moderately educated, practice sustainable actions, and there is an equal frequency of second home owners and full time residents in this group. Group Two respondents believe climate and weather do not affect property ownership but do affect property value, are highly educated, practice sustainable actions, and there is a larger proportion of second home owners. Finally, Group Three respondents believe climate and weather do not affect property ownership or property value, have very little education, practice sustainable actions to a lesser degree than the other groups, and there is a larger proportion of full time residents. This information is useful for Currituck County to better communicate with and educate its high-risk and high-end, property owners.