Southport Reporter (R) Bourder
Southport & Mersey Reporter - Mobile

Click on here to go to latest edition's main page.

  Search Edition Archive  

Visit our online shop...

   

Click on to go to our hub website.

Latest Edition   Archive   Shop   Email   Mersey Reporter
Please support our advertiser below...

For more recommended businesses click on here...

Weekly Edition - Published  28 December 2015

 

Local News Report - Mobile Page

 

High risk of flooding crippling value of many homes in North of England, HML finds

THE "hidden cost" of flooding in the North of England has been uncovered by the UK's leading ⅓ party mortgage administration provider, HML.

In a comparison of the category of risk of flooding assigned to each postcode by the Environment Agency and average house price sales in each area, HML found that the value of many homes in the North of England has been crippled by a high risk of flooding.

Its analysis found that properties classified as at high risk from flooding in the North West and Yorkshire and Humber regions of England increased in value half as fast between 2005 and 2014 than those at no flagged risk (17.04% compared to 8.58%).

Andrew Jones, Chief Executive Officer at HML, said:- "A flood can devastate a community, but there is a huge hidden cost to those at high risk in much of the North of England. The high risk of flooding for some areas accentuates the regional disparity of property price changes, meaning other, safer areas, particularly Greater London, are seeing far greater increases than areas at risk. As well as the threat of damage and of course injury from floods, households at risk also therefore face a greater chance of falling into negative equity and reduced chances of sale."

In Yorkshire and Humber, the difference was starkest, with the value of properties in high risk postcodes growing at 5.101% compared to 16.210% for no flagged risk.

In the North West region, the value of properties in high risk postcodes increased at 6.20% compared to 15.33% for no flagged risk.

By far the greatest rate of increase for property values was in Greater London, where the value of properties at no flagged risk of flooding have increased 100.71% during the same period; more than 10 times faster than the combined average for high risk properties across Yorkshire and Humber and the North West.

HML manages around £32 billion of assets across the UK and Ireland, and uses advanced analytical instruments and its knowledge of mortgages and property to develop a deep insight into understanding trends within the market, particularly on negative equity, repossessions, arrears and interest only mortgages.

The company employs over 1,200 people across the UK and Ireland, with around 650 based at its headquarters in Skipton, Yorkshire.

The company recently committed itself to helping Yorkshire become the capital of a new "Northern Powerhouse" through substantial investment in existing staff members and the specialist training of new recruits to help the region grow and prosper.

 

News Report Page Quick Flick.

Click on here to go to the mobile menu page for this edition. News Report Page Quick Flick
 

Read this page.

Southport Reporter (R) Bourder


  


 

 

 RSS Our Weekly Headlines

 


(+44)  08443 244 195
Calls to this number may be recorded for security, broadcast, training and record keeping.
 

4a Post Office Ave, Southport, Merseyside, PR9 0US, UK

 

Click on to see our Twitter Feed.  Click on to see our Facebook Page.  Click on to follow our LinkedIn Profile. This website is licence to carry news from Vamphire.com and UK Press Photography. 

This is our media complains system...

We are regulated by IMPRESS, the independent monitor for the UK's press.

How to make a complaint
Complaints Policy
Complaints Procedure
Whistle Blowing Policy

 



Southport Reporter® is the
Registered Trade Mark of Patrick Trollope

...