January 31, 2007—Research by The College of Estate Management, (CEM), a leading center for distance learning and training services for the property and construction industries, has found that the increasing levels of flood risk that threatens UK homes and businesses are often not properly understood or appreciated by the modern property industry.
According to the report, flood risk is increasing due to a combination of three factors: climate change, the increased value of land and buildings in vulnerable areas; and the pressure to build on flood plains.
The report notes that it has been estimated that in England and Wales over 220 billion worth of property is potentially at risk of flooding, from rivers, groundwater, sewers and coastal excesses.
The research found that in the commercial sector, flood risk assessments are not undertaken as a matter of course on property acquisitions for development, investment and business occupation, but only if a problem is suspected.
The College of Estate Management is an independent charity dedicated to worldwide distance education and research for the real estate and construction professions. The report can be downloaded for free at the Web site.
