Buyers turning away from flood-affected homes
Thu 2nd Aug, 10:31:28 BST
Home buyers are thinking twice about purchasing property in the Lincolnshire town of Louth after the recent flooding, local estate agents have claimed.
According to firms in and around the town, potential buyers are now reluctant to consider homes near to the river unless the price is significantly lower than a property outside the at-risk area.
"The price of houses that have been flooded will be affected in the short term," Mark Jones, the managing director of Compass Estate Agents told the Louth Leader.
Another local firm, Peter Mountain, also revealed that two potential sales have already fallen through, with a buyer from Grimsby and a property investor both re-considering after seeing the damage caused by the floods.
At the same time, estate agents in Gloucestershire have claimed that there is a shortage of housing in the county, with local residents having to stay in hotels due to their homes being damaged by the floods.
According to firms in and around the town, potential buyers are now reluctant to consider homes near to the river unless the price is significantly lower than a property outside the at-risk area.
"The price of houses that have been flooded will be affected in the short term," Mark Jones, the managing director of Compass Estate Agents told the Louth Leader.
Another local firm, Peter Mountain, also revealed that two potential sales have already fallen through, with a buyer from Grimsby and a property investor both re-considering after seeing the damage caused by the floods.
At the same time, estate agents in Gloucestershire have claimed that there is a shortage of housing in the county, with local residents having to stay in hotels due to their homes being damaged by the floods.
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