Being on a flood plain puts off three quarters of housebuyers

Sarah Coles
Winter weather Dec 27th 2015
Winter weather Dec 27th 2015

The recent flooding around the country has woken people up to the real risks posed by being on a flood plain. A new piece of research found that one in four people would be put off a property if they discovered that it was on a flood plain. In terms of off-putting locations, it's second only to being next to a rubbish tip.

The research, by online estate agents, asked people whether they would consider buying a blighted property - and how much of a discount they would expect. Unsurprisingly given the recent floods, being on a flood plain was one of the biggest concerns.

Alex Gosling, CEO of comments: "We've all seen in vivid detail just how devastating the floods have been over the past month. Flooding seems to becoming a more regular occurrence, and prospective buyers are likely to be more aware of the risks associated with buying a property on a flood plain than maybe they have been in the past. Homeowners looking to sell a property on a known flood plain may well need to be willing to discount hard if they want to secure a quick sale."
The ten worst blights (and the percentage that would buy there)
1. Near a rubbish tip - 16%
2. On a flood plain - 24%
3= Near a cliff susceptible to erosion 36%
3= By a prison 36%
5. By a power station 48%
5= By an electrical substation 48%
5= By a pub or club 48%
5= By an electricity pylon 48%
5= On a flight path 48%
10= By a main road or motorway 60%
10= By a mobile phone mast 60%

In the case of the rubbish tip, flood plain, cliff, prison and power station, when asked how much of a discount they would need in order to tempt them to buy a blighted property, the most popular answer was 30%.

It goes to show that these are the most off-putting features for the largest numbers - so if you are considering buying a property with any of these blights, it would pay to negotiate hard.

Other things were Marmite issues. Flight paths in particular divided those surveyed. While only 48% of people would be put off by a flight path, of those who didn't like the idea, when asked how much of a discount they would need in order to consider it, by far the most common answer was 30% or more.

Not so bad

It goes to show that not everyone is equally bothered by blights. It means that if you are on a tight budget, and looking for a bargain, it's worth thinking very carefully about those things you don't mind that others might. If, for example you're one of the 36% who don't have any qualms about living next to a cliff that has seen erosion - or a prison - then you could snap up a real bargain if you focus your search.

There's also good news for some people who may be concerned they are in a blighted property. A number of things that are traditionally considered as negatives, didn't seem to be too off-putting. Some 87% of people would consider buying a property within sight of solar panels, 84% would buy in viewing distance of a wind turbine, 76% would buy by a school, and 68% would buy above a takeaway or restaurant. When asked how much of a discount people would expect in order to buy in any of these places, the most common answers for them all were between 5% and nothing at all.

But what do you think? Would you buy a blighted property? Let us known the comments.

Footage Shows Large Buildings Submerged in Cumbria Floods
Footage Shows Large Buildings Submerged in Cumbria Floods