Insurance News Archive
Global warming leads to uphill property search
Rising sea levels caused by global warming is leading many people to seek properties on hills, according to a new survey.
A poll found that 79 per cent of property buyers are looking to purchase houses on higher ground to escape an anticipated rise in sea levels, with the risk of flash floods, rising water tables and increasing temperatures influencing the choice of properties bought.
A higher position also makes it less likely that a claim on buildings insurance will have to be made for damage caused by water.
Sheffield University lecturer in climate change Dr Edward Hanna explained that in the last century sea levels have risen by 1.5mm to 3mm a year compared with a 0.15mm average over the last 3,000 years.
He went on to say that rising sea levels are not the only threat property owners may have to face.
Dr Hanna said: "The increased likelihood of storm surges and disastrous coastal flooding is probably even more concerning than the rise in average sea-level. Many of our most popular coastal towns and cities are ultimately likely to be severely disrupted.
"Despite significant uncertainties remaining about the future effects of global warming and rising sea-levels, I personally would not buy a property within about five to ten metres above mean sea-level."
16 Aug 2006
