The Real Cost of New House Delivery Report
Future Analytics Consulting teamed up with the Society of Chartered Surveyors Ireland (SCSI) to produce The Real Cost of New House Delivery report, which launched last week.
The report analysed the actual costs involved in building an average three-bedroom semi-detached house in the Dublin area, which currently stand at €330,000.
Of this, just 45% is attributable to labour and materials with the remaining €55% going on ‘soft costs’ such as land and acquisition, and VAT.
The sale price of a similar dwelling in the region is at present less than the cost of building a new house, creating a financial viability issue for developers. In light of the housing crisis in the capital, this is an issue that needs to be addressed by the Government.
Five key recommendations were made by the group to reduce to cost for new builds, including reducing VAT and the finance rate for development as well as increasing the supply of available land in areas of high demand.
The SCSI website includes a House Delivery Cost Calculator to allow the assessment of costs for new build houses of different sizes.
Full report here – SCSI – The Real Cost of New House Delivery 2016
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