House rebuilding costs increase

HOUSE rebuilding costs have risen marginally again over the past 12 months, according to a new survey published by Ireland’s largest construction and property industry body, the Society of Chartered Surveyors.

The SCS, today launched its 2007 guide to house rebuilding costs to assist homeowners with insuring their property, warns that although increases in reinstatement costs are minimal, homes must be properly valued for building insurance.

The highest increase was found to be for detached bungalows in all areas. In Dublin costs are up by as much as 4.83% followed by Waterford which saw a rise of 4.58%. Cork was next with a highest average increase of 4.52%, then Galway with 4.31%. Costs rose least in Limerick where the highest was up by 4.29%.