Is Climate Change Impacting The Value Of Your Home?
Coastal properties have long been a popular choice thanks to their proximity to the beach, their sea views, and their more relaxed lifestyle. However, with climate change becoming an increasing concern, are the values of homes near the coast being affected?
If you’re selling a property near the sea, you may be worried that your home’s value is being impacted by the effect of climate change on coastal erosion, so the team here at Properly have done some research to find out more about whether there’s any cause for concern.
High Demand For Coastal Locations
Far from a reduced demand for homes in coastal locations, recent research has shown that the values of seaside properties have actually risen by more than £19,000 over the past couple of years. With more people reporting a higher quality of life when living by the sea, it isn’t too surprising that there are many people who are keen to relocate and enjoy the benefits that coastal living has to offer.
Potential Issues For Coastal Homes
Despite demand still being high for coastal homes, it’s essential to understand the possible issues that could arise. Flooding and coastal erosion are being made worse due to climate change. This can cause significant problems for homeowners, only adding to the home maintenance issues that arise due to the increased levels of salt in the air and higher exposure to inclement weather. For anyone selling a home in a coastal area, these risks must be borne in mind during the process of determining an appropriate asking price.
Will Coastal Flooding Reduce Property Prices In The Future?
Erosion of the coastline is especially problematic in certain areas, and the government has warned that by 2080 up to 1.5 million homes in England could be in an area that presents a major risk of coastal flooding as the sea level continues rising. Eroding coastlines are set to threaten around 100,000 properties. With warnings that the sea level may increase by as much as three feet within our children’s lifetimes, protecting the entire English coastline in its current state will be impossible.
Fortunately, the government claims it’s on track to provide increased coastal erosion and flooding protections, having introduced a 6-year programme in 2021 to create more infrastructure and places that are climate resilient. About 2000 government schemes are in the pipeline, with more than £5 billion being invested in protecting 336,000 properties.
Can Coastal Erosion Be Slowed Down Or Prevented?
The government says it is committed to taking action to protect those who own properties in these at-risk areas and mentions strategies like strategic vegetation planting, groyne installation, installation of geosynthetic tubes, beach nourishment, and the construction of breakwater and saline stone packaging structures.
If you’re selling a home by the sea, you’ll be pleased to learn that coastal properties are still in high demand.
The team here at Properly are expert in the property market and can help you find the ideal buyer for your property.
Get in touch today at firstname.lastname@example.org or on 0207 459 4400 to find out more.
London Youth work to improve the lives of young people in London, challenging them to become the best they can, and last year helped over 27,000 young people through their sports development, youth action and involvement, arts and outdoor education programmes and employment prospects. We feel strongly that all young people should have an opportunity to develop themselves, and so are delighted to be able to support London Youth in their work, providing young people with access to opportunities they might not otherwise have had, to learn new skills, to make a positive change in their communities and to shape the city they live in.
Glass Door helps homeless men and women in London through their large network of emergency shelters and support services. These winter shelters provide a warm welcome, food, safety and shelter for up to 170 people every night. Properly feels passionately about the issue of homelessness. That is why we are delighted that together with our clients we can assist Glass Door in their fantastic work to help some of the most marginalised people in society.
Families become homeless for reasons we can all identify with. We are concerned about people who are struggling to keep things together in our fast-paced world – and we care about those who have no support. We chose the Doorstep Homeless Family Project because they are passionate and effective yet they are a small team with limited funding. They provide homeless families, living in temporary accommodation in London, with access to services to secure the emotional and practical support they require to enjoy a better quality of life.
We need nature and nature needs us. We support The London Wildlife Trust because we share its concern for the environment. We want to ensure that we keep nature in mind as we work in the property market – and crucially, with people’s homes. We also want our employees to engage with nature and benefit from the wellbeing this brings. London Wildlife Trust cares for over 37 of London’s spaces, and their vision is: “a London alive with nature, where everyone can experience and enjoy wildlife”.
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