Rising sea levels to hit economy like a lockdown wave

Rising sea levels will cost the Victorian economy billions of dollars, a report has found. (Julian Smith/AAP PHOTOS)

Surging sea levels could cost the Victorian economy as much as a COVID lockdown every two years, an inquiry has been told.

Homes, farms, industrial infrastructure and conservation reserves were all at risk from coastal erosion, king tides and inundation, according to a multi-university report tabled at a state inquiry into climate resilience on Wednesday.