Cost of building a three bedroom house in Dublin soars by €41,000

The cost of building a three-bedroom semi-detached house in the greater Dublin area has increased by €41,000 over the last four years, a new report has found.The Society of Chartered Surveyors Ireland , which published the report, said the increase has been largely driven by a rise in hard costs, including bricks and mortar, which jumped by 19% or €29,000.

Micheal Mahon, incoming president of the SCSI, said the housing crisis will not be resolved until the balance between affordability for buyers and viability for developers is addressed by the Government. "The current model will not deliver the volume of homes we need, which is between 30,000 and 35,000 a year. There is a major affordability gap for first-time buyers trying to purchase a home in line with Central Bank of Ireland regulations and this gap raises serious questions over the viability of new house building.Sign-up for the Irish Mirror newsletter Sign up for our newsletter today!

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