Cost of rebuilding a home rises by 12% in the past year

Rebuild homes have fallen significantly in the past year from a precious 21%, the SCSI reports 

Chartered Quantity Surveyor Kevin Brady said the continuing increase in rebuild costs is a direct result of construction labour shortages across the sector combined with high levels of demand for builders. Pic: Larry Cummins

National average re-build costs, including demolition and site clearance, have increased by an average of 12% over the past 12 months, according to the latest House Rebuilding Guide published by the Society of Chartered Surveyors Ireland (SCSI).

That is down significantly from the 21% increase recorded in the previous 12 months.