Flood risk information, housing markets, and spatial inequality

Allan Beltrán, Karlygash Kuralbayeva, Eileen Tipoe

2026

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DOI 10.1093/jeg/lbag064
Data confidence 85 high
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Abstract

Abstract This article examines how housing markets respond to nearby floods that do not directly damage properties, and whether these responses differ across more- and less-deprived neighbourhoods in England between 2010 and 2018. Nearby floods increase time-on-market everywhere, but price effects vary systematically by deprivation: in more-deprived areas, prices fall, consistent with risk-related price revaluation and weaker seller bargaining power, while in less-deprived areas prices remain broadly stable. The implied short-run risk-information discounts are about 3.8 per cent in more-deprived neighbourhoods and 1.2 per cent in less-deprived ones, summarizing how flood-related risk information is capitalized jointly into prices and selling times.