The RISE and FALL of CSIRO Sea Levels

The CSIRO issued a warning to "150 million people [who] live within 1 metre of high tide level, and 250 million within 5 metres of high tide." (link)
The Oceans are changing. Many observations show that the ocean has been changing over the last several decades. One aspect of this is a warming ocean resulting in increase of ocean volume through thermal expansion. There has also been addition of water from glacier and ice sheets and changes in storage of water on or in the land (e.g. retention of water in man-made dams and extraction of water from aquifers). These together result in changes in sea level. 
And even more alarm from CSIRO Fellow John A. Church
Changes in ocean temperatures and currents and in the oceans' interaction with the atmosphere are already altering the frequency, intensity, and distribution of storms, droughts, floods, heat waves, and cold spells. And by 2100, rising sea levels from ocean thermal expansion and increasing ocean mass (from melting glaciers, ice caps, and the Greenland and Antarctic ice sheets) will expose an additional tens of millions of people annually to the risk of coastal flooding. (LINK)
Oh! NO! 

We're all going to need that beach house in the Blue Mountains........but, wait!...There's more!

 CSIRO, that's right the same CSIRO have reported a drop in the ocean which is more than...well.....a drop in the ocean, ie an estimated decrease in ocean water mass of 1.8 trillion tons.
Pep Canadell, CSIRO and Ben Poulter, Montana State University, as recorded by CSIRO Climate Response  have stated (bold added)
The power of La Niña to evaporate water from the oceans was boosted by the ongoing high sea-surface temperatures that are part of a long-term trend of ocean warming. That trend has been shown to be associated with the release of greenhouse gases from the combustion of fossil fuels and deforestation.  
This massive rain event was so significant that sensors on-board the twin satellites GRACE estimated a decrease in ocean water mass of 1.8 trillion tons. That remarkable finding was measured by changes in the Earth’s gravitational field, brought about by the transfer of water from the ocean to the atmosphere and land surface. 
The drop in global sea level in 2011, which went against the trend of the previous 18 years.  Boening et. al. (2012)CC BY  
This made the ocean’s sea level fall by 5 millimetres from the beginning of 2010 to mid-2011, going against the average sea-level rise of 3mm a year over the previous 18 years associated with global warming.

So do we believe the CSIRO that warns us of rising sea levels or the other CSIRO that reports global sea level dropping?

And speaking of each way bets.....

I DO like to be beside the Seaside in my Beach House in the Blue Mountains:

H/t  Peter Neilsen - Evacuation Grounds