Floods make a splash on the property market

Despite damage through heavy rainfall being extremely rare people are finding it increasingly difficult to sell their homes by the water.

Although prices of riverside properties have dropped dramatically over the past few weeks Greg, founder of innovative property company The Step, says that people should not worry as the recent disasters are unlikely to put buyers off in the long term.

He explained: "Over the past few weeks we have had many calls from people who have got their riverside homes on the market worrying that they will lose value or not sell at all."

"Flooding on this scale is fortunately very unusual so people selling their riverside homes should not panic. Around five million people, in two million properties, actually live in flood risk areas in England and Wales and it does not have a drastic effect on their value. This is just an initial reaction to the disaster. Eventually the prices will increase again."

Residential properties by water are protected by flood defences put in place by the Environment Agency. They are designed to manage flood situations by reducing the likelihood of them occuring in the first place and minimising their impact.

Greg added: "On the other hand homebuyers interested in riverside properties are trying to get cheap deals while the weather continues to be hitting the headlines."