Is it acceptable to build new housing estates on land which is at high risk of flooding?

The above question was asked to the It-Your-Vote community.

We provided additional information for the question which was:

"The Government defines high risk areas as having 1 per cent or greater chance of flooding in any one year. Homeowners who buy property on high risk land are not eligible for flood cover under the Governments new insurance scheme. Should they then be allowed to sanction the building of 11,000 new houses on land which is at high risk of flooding.".

The available answers for this questions were:

1. Yes-if people are willing to accept the risks it is ok

2. No-we should not be building on a high risk area of flooding