The Environment Agency have published a flood cost estimate for the winter 2013/2014 floods. This assessment found that total economic damages for England and Wales were between £1,000 million to £1,500 million, with a best estimate of £1,300 million.
Residential properties were reported to have suffered the greatest proportion of
damages, with 25% of total damages occurring to this sector (best estimate of £320 million incurred by
10,465 properties. There were significant differences between tie 2007 floods and the 2014/14 events, largely relating to the location, duration, type of event (coastal, fluvial, pluvial, groundwater) and the timing. By comparison, damages from the winter 2013 to 2014 flood event represent around a third of the £3,900 million (uprated to 2014 values) damages from the summer 2007 floods where 38% was incurred by residential property owners and 23% by businesses.
You can watch Lydia-Burgess-Gamble's webinar on this report here. The outcomes of this study are summarised in the infographic and the full report can be downloaded from the Environment Agency website.