Building costs. Jan 2023

The reason is if your building or getting construction work done in Dublin the builders know you have money its that simple and they up the price. I wouldn't be paying todays prices they are going to drop. Property prices have dropped for the first 3 months of the year and that at a time of record high demand and record low availability. So people cant afford to buy what's on offer as its too expensive. So construction companies will either have to cut their profit margins or hit the wall

From what I see its coming down.

Deisel/Petrol down

supply chain issues no longer a huge issue

Raw materials right back down and some back to pre pandemic levels - IE - Lumber.

40k more workers working in construction from 2021 to 2022 and this will increase further to this year with active campaigns to issue visas for workers to come here to work.

Construction outputs and PMI way down a serious contraction in work for things like extensions so less work and more workers is showing more competition for jobs.

Interest rates continue to go higher and higher with at least another 2 coming before July so further taking would be customers out of the market due to affordability.

The only question is when the lads working in the game will compete or hit the wall

Well I have quotes from this time last year and now and have seen a 15% reduction, having said that I had 6 builders out quoting and one was over last years quote so some builders have not been bitten yet by the new reality that exists in their industry the other 5 were lower than lasts years quote.

Well like I say when the customer base that would of been extension buyers are further restricted to credit via interest rates it will start to bite for that part of the construction industry not to mention things like electricity is coming down always sticky coming down the only thing is that construction companies will have to compete to keep the wolves from the door already there has been a huge increase in insolvencies accross the SME sector.

Its supposed to be 5% already since it was announced it has been pushed out twice and gone from 10% to 5% this government would get a severe kicking if they put it on at a time of very high property prices even do property prices are dropping I expect another can kicking exercise, they may well leave it and let the Shinners do when they cease power.

150 for a metre of concrete, was 72 when i built 5 years ago

Carbon tax added to cement this past two years is a big factor we've been told. Prices not as high as e150 in the NW of the country but still up about e40 / metre in two years and talk that it's to go much higher

I'm fairly close to the Donegal - Tyrone border and I haven't noticed any NI readymix lorries about for some time now. That's not to say that they aren't delivering here but maybe there is a Brexit issue or possibly they aren't competitive.

All the price increases on everything are starting to get "baked in" now. No fella working wants to get up out of bed for less than 500 a day now and suppliers greeflating 30-50% onto their costs regardless of whether their costs have gone up by anything near that amount or not. It will take a recession or calamity to bring the prices back I'd say

That is my understanding too but no doubt you will shortly be told by one particular zealot poster on here that prices are dropping and will continue to do so!

Well construction PMIS are down again last month, I am presenting the raw data and my experience. If people are happy to pay what ever some cowboy is asking without asking questions then that's there prerogative.

https://tradingeconomics.com/ireland/construction-pmi

The reality is construction outputs and PMIs are down and this means these 2 indicators show that demand is way way down.. There is demand there but it is falling off a cliff due to a very high % of would be customers being locked out of getting an extension due to the higher and higher interest rates. I mean come on the price of getting an extension could go up 5 fold and there will still be interest in getting work done as some people have money to spend. Yet demand is down no one here can argue that as its not what the raw data available is showing and the amount of workers working in the construction industry is up 40k from 2021 to 2022.

Also have a good look at boards the requests for getting work done has slowed right down over the last 12 months, 2/3 years ago there would of been request after request on a daily/weekly basis now there is barely a mention in comparison when you go to construction and planning and prices on this site.

A lot of this horsesh1t and tactics builders want to lock in as much work as possible before it completely dries up if people want to pay stupid prices go for it as with everything else there is a huge amount of gouging in the sector and as I said I had a half dozen construction crews out with me and with the usual ah we are out the door busy funny how 3 could start straight away the others two were the summer and one sept and already the lad stating September has told me they can get me in earlier due to cancellations remember a lot of jobs will be from people getting a loan and the same lending rates will be up a good bit more before the end of rate hikes.

Same as the Celtic tiger crash years .Big sites close and the lads used to working on the site then move into small scale residential works.They don’t appreciate that on the large sites they had foreman ,engineers ,architects, QS all making the decisions and now they have to pay attention to all aspects of the project.Inevitability mistakes happen and homeowners are left with poor work.Meanwhile customers think a regular day rate is what works should cost and avoid professional companies with experience on small residential works .

Prices for home extensions are not getting cheaper but they are not rising either with professional companies.One man bands will vary based on if they have any work or not.

Cubic metre???

Hi Folks,

Has anybody got a quote from a builder lately? Are we still in the €3k plus per sq metre for extensions? Any idea on price per sq metre for retrofit?

Regards

kev

Cement has gone up for sure. Was €5.89 and is now €6.30 excl VAT. That's a change between February and May when I bought.

Timber hasn't changed in the last couple of months but i'm told chipboard is down now.

Insullation (150mm) is up ~€10 plus VAT since October.

I don't think prices are coming down much but aren't rising. We're in a period of stability by the looks of it

is that for a 25k bag I am seeing it at 5.49

https://www.thedandys.ie/product/origin-cement-25kg?gclid=CjwKCAjwsvujBhAXEiwA_UXnAP9lpJTeAEi3BQ35SYEjZHj5ONvGOULx07IPNj-Vrbjyr-TW3SA6ShoC2B0QAvD_BwE

as for other costs

Timber is way down.

Insulation has dipped back up but is cheaper now than 6 months ago

Sheet materials way down

Blocks up slightly.

Chipboard is down

and cement has remained fairly consistant in price for the last 12 months

Add in petrol diesel prices are coming down as a whole.

https://mybuildingsupplies.ie/building-materials-price-tracker/#

Wrong 40k more working in construction in 2022 in Q1 as apposed to 2021 Q2 its actually getting better. House prices are dropping

https://irishbuildingmagazine.ie/2022/09/01/cso-report-shows-40000-increase-in-construction-employment/