Reducing construction costs is a key part of supporting the delivery of Housing for All, and is critical to increasing supply.
Under Action 23.2 of Housing for All, my Department, in conjunction with the Construction Sector Group, is conducting Residential Construction Cost Study for new build housing and apartment schemes and student accommodation. This is an analysis and value engineering exercise for each component cost of construction (including cost of compliance) of house and apartment development, informed by cost comparisons with comparable EU countries. This includes the cost of construction materials.
The study is also identifying opportunities for cost reduction for consideration by relevant Government departments and industry. A Steering Group comprised of stakeholders from across Government and industry provides oversight. The study is expected to be completed in Q1 2023.