Property sales in flood-risk areas have been higher than the national average since 2013, new study of Land Registry and Environment Agency data conducted by Groundsure has revealed.
The research also found that areas with low to moderate flood risk saw 2 per cent greater activity than those without.
Flood risk is a growing issue, with Environment Agency data for the last 50 years showing a steady increase of events. Records also indicate that summer flooding is on the rise with the 10-year average of events reaching a 50-year high of 12.9 per year in 2014. This 10-year average has been bolstered by summer floods in 2012 and particularly in 2007, but had previously remained largely between one and five events over the last 50 years.
Summer events have recently affected eight areas of the UK, where The Environment Agency has issued flood alerts.
“Despite anticipated difficulty in selling properties prone to flooding, relatively high turnover is seen, suggesting that flood risk may have a negative effect on the long-term enjoyment of a property. This highlights a possible lack of homebuyer awareness,” Dan Montagnani, managing director at Groundsure, said.
“The trend for the last 50 years would suggest that, in future, areas at risk are likely to encounter more incidents than they have in the past. It’s recommended to listen to advice from the Environment Agency and we’d strongly advise any new homeowners to fully understand and deal with any flood risks before they buy,” he added.
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