Further to the Construction Industry Federation’s call for an increase in house prices.
John Gallen writes:
“I contacted them [CIF] via Twitter. I wanted to know why they saw it that “house prices need to increase in order for the building of residential properties to become more cost effective”.
The basic response is that although land has come down since the boom years in varying degrees other costs have not. I asked for detail of these other costs. I got this breakdown of how much to build a typical 3 Bed Semi-d. It comes in at €197k just to build it. Excluding VAT.”
Earlier: The Only Way Is Up