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New Homes Face Future Flood Uninsurability
29 Sep
Summary
- New homes risk being uninsurable due to rising flood threats.
- 115,000 homes to be built in flood zones in the next decade.
- One in nine new homes face medium to high flood risk by 2050.
Homes currently under construction may become uninsurable in the future due to escalating flood risks, according to the head of insurance firm Aviva. This warning comes as building continues in identified flood-prone areas, with projections indicating 115,000 new homes will be built in these zones within the next decade.
Aviva's research reveals that nearly a third of homes built in 2024 could face some level of flooding risk by 2050. This alarming trend is compounded by the increasing frequency of extreme weather, with record wet winters now occurring once every 20 years, a significant increase from historical patterns.
Beyond direct flood zone construction, properties bordering these areas also require careful consideration. Mitigation strategies can reduce vulnerability, but the fundamental placement of new housing in high-risk zones remains a critical concern for the insurance industry and future homeowners.
