with all these flooded houses....
23 July 2007, 10:40 PM
#1
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with all these flooded houses....
will the national average of house prices be reduced?
A house near us that got flooded twice in the first set of floods three weeks (think its' flooded again this week too) ago was on the market at £375k, with a buyerready to sign up... then pulled out!..... he's now reduced the asking price to £275k.
now will these properties get insurance?
Phil
A house near us that got flooded twice in the first set of floods three weeks (think its' flooded again this week too) ago was on the market at £375k, with a buyerready to sign up... then pulled out!..... he's now reduced the asking price to £275k.
now will these properties get insurance?
Phil
24 July 2007, 08:31 AM
#3
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Probably not - houses nowhere near a river will be worth more 
With difficulty I'd guess.
A house near us that got flooded twice in the first set of floods three weeks (think its' flooded again this week too) ago was on the market at £375k, with a buyerready to sign up... then pulled out!..... he's now reduced the asking price to £275k.
now will these properties get insurance?
Phil
now will these properties get insurance?
Phil
24 July 2007, 01:48 PM
#4
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You should be able to get insurance against everything except flooding, i.e. fire, burglary, storm damage, etc. If there has only been one flood in the last 50 years then there is not that much risk really. Many houses are on top of old mines, underneath flight paths etc. which increases the risk compared to an 'average' house. £100k off is a kneejerk reaction imo.
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