The latest SCSI Tender Price Index *TPI) shows that while construction costs are continuing to rise, the rate of increase eased significantly in the second half of 2023.

The TPI shows the rate of commercial construction inflation increased nationally by 1.5% in the second half of 2023, down from 2.4% in the first half of last year.

The post Tender Price Index – February 2024 appeared first on Society of Chartered Surveyors Ireland.

Access our latest residential property market report featuring a review of 2023 with key trends, affordability metrics and 2024 Outlook.

Included in this report:

• Key Highlights
• Overview of the Housing Market
• Transactional Market in 2023
• Persistent affordability challenges facing new housing
• Frustrations with Residential Letting Rules
• Technology Investment
• Property Market Outlook 2024
• Survey response & comments

The post Annual Residential Market Monitor Review and Outlook 2024 appeared first on Society of Chartered Surveyors Ireland.

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

The post Real Cost of New Housing Delivery 2023 Report appeared first on Society of Chartered Surveyors Ireland.