Flood Zone Houses Cheaper
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year flood riskScienceDaily
•How flood risk affects home values
77% Informative
Houses for sale in a flood zone are around 10% cheaper than surrounding areas.
However, the reduced price tag is not worth the extra risk and can burden buyers with long-term insurance costs.
Researchers examined home sales data from the Richmond area on the outskirts of Sydney , along with 2019 and 2023 flood maps for the region.
VR Score
89
Informative language
96
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47
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formal
Language
English
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45
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long-living
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