A new climate risk analysis predicts that one in 10 properties in Australia could become uninsurable within the next decade, which could lead banks to start turning down mortgages in high-risk areas.

According to Climate Valuation analysts, about 380,000 properties are already uninsurable or unaffordable to insure—roughly one in every 20 homes. This figure is expected to double, with the number of uninsurable properties reaching one in 10 by 2035, ABC reported.

"All of this, unfortunately, is rolling out like clockwork, just as has been predicted in the climate models," Climate Valuation CEO Karl Mallon said. "It's sad to say that since the 1980s we've said this is what's going to happen and it's happening just as predicted, if not a little bit faster........

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