Posted: 2nd October 2024

£20+ billion worth of properties "at risk" due to flood warnings

Increasing flood risks indicate that properties in the UK may be overvalued by £20 billion, according to research conducted by Hometrack.

Utilizing Hometrack’s sophisticated Climate Change Insights engine, this analysis highlights potential asset losses and the anticipated conclusion of the Flood Re scheme in 2039. Depending on the availability of insurability following the scheme's termination, the total impact could escalate to £60 billion by 2050.

Currently, 400,000 properties classified as high-risk are projected to experience a value reduction of 7.5%. As climate change exacerbates flood risks, an additional 150,000 properties will be deemed high risk by 2050.

The 400,000 properties facing the greatest risk and anticipated value decline, along with 500,000 properties categorized as medium risk, are not uniformly spread throughout the nation. East Anglia exhibits a higher concentration of affected properties, with 1% of the total property value in the region potentially vulnerable to flood risk.

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