The Climate Crisis in Southern Europe and Conveyancing

The conversation around climate change has shifted from a theoretical debate to a practical discussion about how it is impacting our daily lives. 

For prospective property buyers in the UK, climate change is no longer an abstract concern.

From flooding to overheating, climate change is affecting the value, safety, and sustainability of properties across the country.

Flooding Risks

Firstly, the risk of flooding is a serious concern. As sea levels rise and rainfall patterns become more unpredictable due to climate change, parts of the UK, particularly low-lying and coastal areas, are increasingly at risk of flooding¹. This can lead to significant property damage, increased insurance premiums, and potential loss in property value².

Overheating and the Urban Heat Island Effect

Secondly, there's the issue of overheating. Newly built homes and high-rise flats can be prone to overheating during heatwaves, which are expected to become more frequent and severe due to climate change³. The lack of shade from trees in urban areas exacerbates this problem, contributing to what is known as the 'urban heat island' effect.

Value Depreciation

A report estimates that climate change could wipe £525bn from the value of UK homes by 2100, with 1.86 million properties potentially at high risk from climate impacts⁴. This depreciation in value is something prospective buyers need to consider when investing in property.

Carbon Footprint of the Housing Market

Furthermore, the housing market contributes significantly to carbon emissions. As awareness of climate change increases, there may be more pressure to build sustainable, energy-efficient homes, which could impact the value and desirability of less environmentally-friendly properties⁵.

Retrofitting Existing Homes

To mitigate the impacts of climate change, existing homes may need to be retrofitted to cope with issues like flooding and overheating. This could involve significant expense and disruption⁶.

David Pett, Solicitor, and Director of National Conveyancing Provider MJP Conveyancing, emphasises the importance of considering climate change when buying a property. He highlights how the recent heat waves in Southern Europe underscore the impact of climate change and prompt property buyers to think about their decisions thoroughly.

It is essential when considering a property purchase in the UK, it's essential to factor in the current and future implications of climate change. By doing so, you'll not only be making a smart financial decision but also contributing to the broader effort to combat climate change.

Footnotes

1. (https://www.metoffice.gov.uk/weather/climate-change/effects-of-climate-change) ↩
   
2. (https://www.bradford.gov.uk/environment/climate-change/what-is-climate-change-and-how-will-it-affect-the-uk/) ↩
   
3. (https://www.money.co.uk/mortgages/climate-considerations) ↩
   
4. (https://www.businessgreen.com/news/4039930/study-climate-change-wipe-gbp525bn-value-uk-homes-2100) ↩
   
5. (https://www.buyassociationgroup.com/en-gb/2020/02/13/climate-change-and-housing-how-the-movement-will-impact-uk-property/) ↩
   
6. (https://www.ukcip.org.uk/wp-content/PDFs/3Regions_Retrofitting.pdf) ↩