Flood risk and the consequences for housing of a changing climate: An international perspective

Global warming is likely to increase the frequency and severity of floods due to the combined effects of increased precipitation, storminess, distorted regional weather patterns and rising sea levels. Damage to properties, temporary displacement of flooded populations and climate migration will pose major challenges for housing systems. This article explores the implications of increased flood risk for housing systems, by examining the reasons why flood risk is likely to be a growing factor in determining both the future demand for, and supply of, housing. In particular, the study investigates how flood risk will affect house prices, insurance, mortgage lending, displacement and climate migration, and further reflects on adaptation strategies.