Ellie Ames 01 October 2024

Building costs may exceed house prices in 60 council areas

Building costs may exceed house prices in 60 council areas image
Image: John David Photography / Shutterstock.com

The cost of building a home may be higher than house prices in up to 60 UK local authority areas, according to new research.

Analysis by The Housing Forum has put the cost of developing an average-sized three-bed house at about £242,000, including construction, external works, planning and other fees.

The forum said that once a ‘modest’ sum for purchasing the land was factored in, the cost of building the home may exceed sales prices in 60 council areas, where an average newbuild costs less than £280,000.

Director of policy and public affairs Anna Clarke said: ‘After years of inflation, it is clear that more needs to be done to make new housing more financially viable.

‘There are things that the housing sector can do, like standardising designs and finding efficiencies in construction, but ultimately leadership must come from a national level.

‘The Government must do what they can in the short term to bring down costs, including ensuring a stable policy environment, provide financial certainty for social landlords looking to deliver new homes, and lead the way in researching ways to reduce the cost of building new homes.’

SIGN UP
For your free daily news bulletin
Highways jobs

Assistant Road Safety Officer/Engineer x2

Bristol City Council
BG8
Bristol City Council
Recuriter: Bristol City Council

Park Operations Assistant - Thorndon Country Park

Essex County Council
Up to £23344.0000 per annum
Park Operations Assistant - Thorndon Country ParkPermanent, Part Time£23,344 per annum (full time equivalent)Location
Recuriter: Essex County Council

Road Safety Officer/Engineer x2

Bristol City Council
BG10
Bristol City Council
Recuriter: Bristol City Council

Senior Road Safety Engineer

Bristol City Council
BG11
Bristol City Council
Recuriter: Bristol City Council

Road Safety Technical Lead

Bristol City Council
BG13
Bristol City Council
Recuriter: Bristol City Council
Linkedin Banner

Partner Content

Circular highways is a necessity not an aspiration – and it’s within our grasp

Shell is helping power the journey towards a circular paving industry with Shell Bitumen LT R, a new product for roads that uses plastics destined for landfill as part of the additives to make the bitumen.

Support from Effective Energy Group for Local Authorities to Deliver £430m Sustainable Warmth Funded Energy Efficiency Projects

Effective Energy Group is now offering its support to the 40 Local Authorities who have received a share of the £430m to deliver their projects on the ground by surveying properties and installing measures.

Pay.UK – the next step in Bacs’ evolution

Dougie Belmore explains how one of the main interfaces between you and Bacs is about to change.