Average cost of delivering a new three-bedroom semi-detached house in Tipperary is €371,000

A major new report has found that the average cost of delivering a new three-bedroom semi-detached house in a multi-unit scheme in the midlands region – which includes counties Tipperary, Offaly and Laois - is €371,000.

Nationally it ranges from a low of €354,000 in the north west to a high of €461,000 in the Greater Dublin area.

The report, which has been published by the Society of Chartered Surveyors Ireland (SCSI) found the national average cost of delivering this house type across seven regions by the private sector is €397,000, while the cost is €386,000 when the Dublin region is excluded.

The average combined salary required to buy a new three-bed semi-detached house in Tipperary is €87,000.

The SCSI’s ‘The Real Cost of New Housing Delivery 2023’ report, which was launched recently at the SCSI’s national conference in Croke Park, says the average cost of delivering a three-bed semi-detached home in the Greater Dublin Area (GDA) has increased by over €90,000 to €461,000 over the last three and a half years.

This is an average increase of 24% on the €371,000 it cost to build the same house in 2020 and an average increase of 39% since the SCSI published the first edition of this report in 2016, when the cost of building an average three-bed semi was €330,500.

According to the report, the increase over the last three years in the GDA has been largely driven by a rise in "hard costs" – bricks and mortar – which are up 27% or €49,000 on average while "soft costs" – land, development levies, fees, VAT, margin – increased by 21% or €41,000.

Chartered Quantity surveyor Micheál Mahon, one of the report's authors, said the impact of Covid and the conflict in Ukraine have been the main contributors to the increase in "hard costs" over the past two years.