PB11207-CVR.qxd 1/9/05 11:42 AM Page 1 Joint Defra/EA Flood and Coastal Erosion Risk Management R&D Programme Changes in asset values on eroding coasts R&D Technical Report FD2623/TR Joint Defra/EA Flood and Coastal Erosion Risk Management R&D Programme Changes in asset values on eroding coasts R&D Technical Report FD2623/TR Produced: February 2009 Authors: Risk & Policy Analysts Ltd Watsons University of Newcastle Statement of use The objective of the study is to provide information and analysis that will help improve understanding of how property prices respond to coastal erosion risk. The study considers two specific contexts: where there has never been a defence and where there has been a decision to withdraw public investment from publicly funded coast protection works. The research benefits Defra by providing a reasoned, robust and transparent assessment of the impacts of erosion on asset values, where this will feed into on-going work on adaptation. Taxpayers will benefit from a more comprehensive and consistent approach to appraisal that will help promote and enable the uptake of adaptive options, reducing the need for increased funding in the future, but also providing the basis for spending existing funds in a fairer manner. Dissemination status: Internal: released internally External: released to public domain Keywords: coastal erosion, asset values Research contractor: this report was produced by Risk & Policy Analysts Ltd (John Ash, Teresa Fenn, Elizabeth Daly), Farthing Green House, 1 Beccles Road, Loddon, Norfolk, NR14 6LT, email:
[email protected] in association with Watsons (Nigel Morgan, Madeline Tucker), 3 The Close, Norwich, Norfolk, NR1 4DL, email:
[email protected] and Ken Willis, University of Newcastle, email:
[email protected].