Real Cost of New Housing
The SCSI Cost of New Housing Delivery 2023 Report provides current figures on the costs of delivering homes to market. This report provides real figures on the average delivery costs for three bedroom semi-detached houses constructed in the private sector, a breakdown of all costs, affordability and viability analyses and key recommendations for policymakers.
Key Report Findings:
- The average cost of delivering a new 3-bed semi in Ireland ranges from €354K in the Northwest to €461K in the Greater Dublin Area
- Nationally, the average cost of delivering a 3-bed semi is €397K
- Excluding Dublin, the average cost across the rest of Ireland is €386K
- Costs in the GDA have increased on average by 24% or €90K since the last report over three years ago and by 39% since the first report in 2016
- As a national average, hard costs which include materials and house building costs make up 53% of overall delivery costs
- Soft costs – land, margin, levies, finance costs, VAT, etc – make up 47%
- Higher energy, fuel and building material prices are driving hard cost increases
- Soft cost increases are due to land costs, higher finance costs due to interest rate increases and uplift in professional fee
- The report shows that the combined minimum salary levels required to purchase a new 3 bed semi in the Greater Dublin area is €127K, on average
- The corresponding figure in the Northwest is €85K
