The SCSI Cost of New Housing Delivery Report provides real figures on the average delivery costs for three bedroom semi-detached houses constructed in the private sector. The report provides a breakdown of all costs, affordability and viability analyses and key recommendations for policymakers.
Key findings from the Report
- 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
- 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
- Nationally, the average cost of delivering a 3-bed semi is €397K
- Excluding Dublin, the average cost across the rest of Ireland is €386K
- 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%
- 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
- 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 fees