New research released from government-backed reinsurer Flood Re shows an overwhelming majority of prospective home movers are backing the introduction of a Flood Performance Certificate.
Much like an Energy Performance Certificate (EPC), the Flood Performance Certificate would provide prospective buyers and renters with a clear overview of the flood risk posed to a property.
This includes information on what measures have already been taken to protect the property from flooding and what actions needs to be taken in order to further reduce that risk.
According to Flood Re, the COVID-19 pandemic has dramatically changed what people are looking for when it comes to a new home, with 81% of people supporting the idea of the certificate.
A recent study by the reinsurer shows that more than half of UK adults (55%) are looking to move home at some point in the near future, with over a quarter (28%) looking to move in the next three years.
It also shines a light on the way in which the pandemic has changed peoples’ priorities, as two-fifths (39%) of home movers say the virus has impacted their decision to move in some way, affecting their financial circumstances (26%), working circumstances (23%) or their housing priorities (36%).
With the ongoing pandemic spurring many to move home, the research has highlighted how important flood risk is to those looking to move. Four in five (80%) people believe it is an important consideration and it would make them less likely to buy or rent a property.
Andy Bord, Chief Executive of Flood Re, said: “Many people across the UK are looking to move as a result of the pandemic and understanding flood risk is a top priority for them, which is why I am delighted that over 80% of people support the introduction of a Flood Performance Certificate.
“With increasing risks of flooding due to climate change, FPCs can provide peace of mind for families about their new home and act as a catalyst to encourage them to make changes to the property so it is more resilient to flooding. They are a real positive step towards building a more resilient housing stock in the UK.
“Nobody can stop the rain from falling, but we can all be better prepared for when it arrives. Building a more resilient and flood prepared nation is a goal we can realise through working together and I would urge the UK Government to look seriously at how FPCs can help them achieve this ambition.”
