London homes are most at risk from the twin threats of flooding and extreme heat, according to new research.
The capital has huge risks but its not the only place. Sheffield residents face high flood risks but are less exposed to heat, while Bristol and Birmingham rank high for heat risks but not flooding.
Coastal areas in the East Midlands, Yorkshire and the Southeast are also flagged as flood hotspots.
All of this may undermine Labour’s drive to build 1.5 million of new homes
The study by insurers AXA, paints a stark picture of the climate risks facing England’s properties.
Despite the growing threat, AXA’s poll shows more than half of households (52%) are unprepared for flooding or heat damage. Many have never checked if their home insurance covers climate-related risks, such as cracking and subsidence caused by heatwaves.
The financial toll is mounting. By 2055, properties at highest risk of flooding could face at least £818m in damage costs. Yet, AXA warns, the nation’s housing isn’t keeping pace with the growing risks.
Tara Foley, CEO of AXA UK & Ireland said: “We support the Government’s housebuilding ambitions but can’t ignore the need to future-proof homes. Building in flood-prone areas is a risk we cannot afford.”
AXA is urging the Government to appoint a Minister for Resilience and prioritise investment in at-risk areas to protect homes and communities from escalating climate impacts.
