What if a single government decision could make homes instantly more valuable — or suddenly less so? It’s not a hypothetical scenario. In late 2011, when the Irish government published the first publicly available flood risk maps, the impact on property values was immediate and clear.  As outlined in a paper of mine, jointly published with Tom Gillespie and Tom McDermott this month in the journal Environmental & Resource Economics, homes newly identified as at risk of flooding saw their prices fall by around four per cent compared to those otherwise similar. This wasn’t a case of mass panic or…

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