REVEALED: Cost to rebuild a home in Carlow
The latest House Rebuilding Guide published by the Society of Chartered Surveyors Ireland (SCSI) shows that average re-build costs in the Southeast region, which include demolition and site clearance, have increased by an average of 12% over the past 12 months.
In euro terms, this means that rebuild costs across the South East region including Carlow, have increased from an average of €2,254 per sqm last year to €2,534 per sqm this year, just below the national average of €2,580.
This year’s SCSI House Rebuilding Guide, which is used by homeowners to calculate the rebuilding costs of their home for house insurance purposes, shows a consistent increase in rebuild costs across the country with the majority of regions recording an average increase of 12% to 13%. Last year the increases ranged from a low of 14% in Dublin to a high of 26% in the North-West.
However, the guide finds there can be a notable difference in the increase depending on house type even within the same region. For example in the Southeast Region the increase ranges from 9% for a terraced 3-bed townhouse to 14% for a detached bungalow. Chartered Quantity Surveyor Kevin Brady said the continuing increase in rebuild costs is a direct result of the shortage of construction labour across the sector combined with high levels of demand for builders.
"Overall, the construction market is extremely busy, and this means it can be difficult to source labour or subcontractors for any type of build, particularly electrical, plumbing and heating.
"Material prices have started to stabilize for certain materials, however concrete products are still experiencing price increases as are insulation products, windows, and plumbing products and these are some of the key material cost drivers. Rebuilding a property is not the same as building new houses on a green field site. It requires specialist skills relating to demolition and supporting neighbouring properties. Rebuild projects can also present access challenges. As a result, it is almost a niche market and there can be difficulty sourcing contractors to take on rebuild projects. This will naturally be reflected in tender prices for such projects."