The impact of flooding on residential property buyer behaviour: an England and Australian comparison of flood affected property

Since the late 1990's‐2003, there have been a number of severe floods in areas that have not been subject to this level of flooding in earlier times. All these recent floods have resulted in two alarming factors for all property markets. This paper is based on a comprehensive survey of property professionals throughout England and Wales and a study of flood‐affected residential property in Sydney, Australia. It provides details of how exposure to flood events impacts on residential property markets and buyer behaviour associated with flood‐prone property, and will also provide some insight into the implications and possible ramifications of flooding on the construction, finance and insurance of residential property in flood‐affected areas.