Indeed after Summer 2007 saw the wettest May to July since records began and current statistics showing 2 million properties to be at risk of flooding, investors are urged to assess the risk this could pose to their property portfolio.
"Being able to identify those properties at the greatest risk will enable more efficient portfolio management, a better understanding of value at risk and an opportunity to manage and divert such risk before it is too late," advised Oliver Hughes, Hometrack's director of capital markets.
"A flood damaged house will see a sharp drop in value and in many cases will be unsellable until it has been made good."
Using a combination of proprietary flood data in conjunction with Hometrack's automated valuation model, users can now run their portfolios through specific scenario tests such as the likelihood and damage to residential properties if a river should burst its banks or heavy rain fall in a specific area at letter box level.
The screening of portfolios for flood risk can be instantly assessed enabling any user to obtain a complete review in a matter of hours.
