Property Survey in London on likely floodplain says risk will affect valuation
Ms H ordered a Chartered Surveyor to inspect her South London property for defects and damages. The HomeBuyer Report she received was very positive about the condition of the property. However, the Surveyor warned, the three-bedroom home was situated on a River Thames flood plain.
The home was located in a quiet residential area backing on to Southwark Park. The lifestyle benefits of living close to the Park and its various sporting facilities made the location very attractive.
A short walk away was St Joseph’s Roman Catholic School on Lanark Road, Sutherland Avenue, London, W9 1DF. There was also a large supermarket complex close by.
No defects to speak of in Property Survey in London
The house was mercifully free of defects, said the Chartered Surveyor. He was complimentary about the condition and upkeep of the property in general. A few cracked pavers were all that he discoveredthat warranted repair.
Flood risk lowers property value in Property Survey in London
The Surveyor found that the low-lying area was at risk of flood. Besides the obvious concern over damage and danger, the Property Survey in London noted that this could also affect the home’s saleability.
“According to the Environmental Agency the property is situated an area that is likely to flood. This could deter some purchasers and affect future saleability. However my valuation allows for this. ”
The Thames had three major flood events during the last century. These were:
- The Canvey Island flood of 1953
- The Thames Valley flood of 1957
- The London flood of 1928
With this regularity of flooding, the buyer would be wise to take their Property Survey advice into consideration when buying or insuring the London home.