Tuesday 29 May 2012

The latest house rebuild guide, published by the Society of
Chartered Surveyors Ireland, shows that national average rebuild costs have
increased marginally for 2012.
 

Overall, average rebuild prices have increased by 1.5% but the prices vary
somewhat depending on location and house type. In Dublin rebuild prices for a 3-
bedroom semi detached only increased by 0.52% while in Waterford the increase
was almost 2%.
 

The marginal increase were due to changes in Part L of the building
regulations such as improved insulation requirements to walls and floors, air
tightness (which are regulations that must be complied with in the construction of
buildings) and also increases across the board in materials, VAT on professional
fees and other input costs into the construction process including oil.
The increase follows several years of price falls which meant homeowners could
look forward to pro-rata reduction in house premiums. Now owners could be
facing modest increases.