Housing intelligence business, Hometrack, now has the capacity to assess flood risk on residential property portfolios.

According to the Environment Agency, some 5m people living in 2m properties across England and Wales are at risk of flooding. Last year, the country experienced the wettest May to July since records began, resulting in some 49,000 households being flooded.

Oliver Hughes, Hometrack’s director of capital markets, said: “It is becoming increasingly important for all holders of residential property and property risk to identify those properties subject to the greatest risk of flooding. A flood damaged house will see a sharp drop in value and in many cases will be unsellable until it has been rectified. 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.”

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.