The report, released on Monday by the Standing Committee on Climate Change, Water, Environment and the Arts, warned that more than 80,000 buildings on Victoria's coast were at risk from rising sea levels, with Gippsland named as a hotspot.

The report also found residents were likely to face higher insurance premiums and increasingly tough building regulations because of rising sea levels.

The report calls for fewer developments in low-lying coastal areas and the possibility of an inter-governmental agreement about coastal planning, including potential bans on building in vulnerable areas.

However the report's findings have not changed the stance of members of The Honeysuckles Action Group, who have been campaigning to be able to develop their properties.

Group member David Lawther said the group still "held the same line''.

"As far as we're concerned, we are still here to help people who own land at The Honeysuckles to develop it, like they were promised they could,'' he said.

"We don't believe the sea levels are rising.

"We have been following the science very, very heavily and so far it appears to be all speculation and doomsdayer talk.

"There certainly has been a cooling of the earth over the last 10 or 11 years, so it will be interesting to see how people will justify saying the sea level is rising.''

Mr Lawther said the report could unnecessarily damage property values at The Honeysuckles.

For more, read Friday's Gippsland Times.