GWENT homeowners could face rising home insurance premiums and falling house prices after the Environment Ag-ency published its most comprehensive flood-risk map for homes and businesses.

But many are also set to benefit, insurance experts are predicting, as new levels of flood risk are introduced for the first time.

The new map enables people to find out whether their homes or businesses are not just at risk of flooding, but whether that risk is "low", "medium" or "significant."

Some of Newport's most high-profile landmarks including the new River-front theatre and the Roman amphitheatre in Caerleon are now assessed as having a "significant" risk of flooding, according to the new map.

Other riverside housing development in the city is said to be of a "moderate" risk while large parts of Monmouthshire and Cald-icot are rated a high risk.

Martin Tarling, from the Association of British Insurers, said: "Insurers will take all of this new information into account and I think many homes will benefit.

"Where they were once classed as at risk from flooding, now they are classed as a low risk."

A report from the Royal Institution of Chartered Surveyors following the Boscastle floods in Corn-wall stated that seven percent of homes were at risk from river flooding and could reduce values of homes by up to 15 percent.

Newport estate agent Graham Kingston said: "My guess is that the new Environment Agency map will not impact on property prices any more than it ever has.

"Properties with a river view will always be popular for that reason. Any sensible buyer knows that there an element of risk in any river view property and can take steps to address this.

"In Newport there are few problems and in the isolated incidents work has been carried out.

"The effect on property prices in an area with flood risk is difficult to assess. There was a street in Risca going back a few years which used to flood regularly. People living in those homes just could not sell them at all."

Dr Helen Phillips, director of the Environment Agency Wales, said: "The agency works extremely hard to protect and warn people, but fighting floods is a team effort.

"There are practical steps people can take to reduce the impact of flooding. It starts with being better informed."

The Flood Map can be accessed online at

www.environment-agency.org.uk

or you can find out information by calling Floodline on 0845 9881188. It shows the areas of England and Wales that could be affected in the event of flooding from rivers and the sea.

On the website, click on the icon that says Flood Map and then enter your postcode in the box on the side of the page.

The website will then say whether your postcode is either at significant, moderate or low risk of flooding.