House rebuilding costs have increased by average of 7.3% nationally over last 18 months

Increases range from 5% in Dublin to 9% in the North West

Rise in costs means homeowners may face increased insurance premiums

Chartered Surveyors urge consumers to check their homes are adequately insured using the SCSI’s House Rebuild Calculator


Monday 15th March 2021.

The latest Guide to House Rebuilding Costs published by the Society of Chartered Surveyors Ireland (SCSI) shows that national average re-build costs have increased by an average of 7.3% over the past 18 months.

The Guide to House Rebuilding Costs, which is used by homeowners to calculate the rebuilding costs of their home for insurance purposes, shows the increase in rebuild costs ranges from 5% in Dublin to 9% in the North West.

Although Dublin recorded the lowest increase, the capital has the highest rebuild costs while the North West, which recorded the biggest increase, has the lowest.

The increases in Cork, Limerick, Galway, Waterford and the North East ranged from 6% to 7%.

Tomás Kelly, Chair of the Quantity Surveyors Group in the SCSI said the main reason for cost increases was compliance with new Nearly Zero Energy Building (NZEB) standards requirements and an increase in the cost of building materials.

“We fully support the introduction of NZEB standards and recognise the key role they will play in helping to reduce CO2 emissions and reducing energy costs over the long term. However, from a building perspective, they do come with an upfront cost. For example, if you’re rebuilding a house – or 25% or more of it – the ‘envelope’ or surface area of the home has to be bought up to a B2 BER rating. The envelope is the total surface area of the house which leaks heat, so it includes external walls, windows, doors, the ground floor and roof or ceiling. Replacing heat pumps, temperature control systems, heat recovery systems all adds mechanical, electrical and plumbing costs to the rebuild process.”

“In addition, Brexit has led to supply issues with building materials and increased the cost of a range of products, including insulation and timber products, mesh, structural steel, plasterboard and metal studs, to mention just a few. The construction industry has adapted well to working safely in the era of covid and the new protocols have not led to significant cost increases for one off residential rebuilds” Mr Kelly said.


Regional Variation

The Society believes the variation in the costs increase is due to increased competition between contractors in Dublin while it also reflects what is happening in the wider property market with prices stabilising in Dublin but still rising in the regions, though coming off a lower base.




Base Rebuild Costs




Increase on 2019

Dublin 95sq.m x €2,290 = €217,550 €218K €10K
Cork 95sq.m x €1,841 = €174,895 €175K €10K
Galway 95sq.m x €1,811 = €172,045 €172K €9K
Waterford 95sq.m x €1,721 = €163,495 €163K  €12K
Limerick 95sq.m x €1,791 = €170,145 €170K  €10K
NW 95sq.m x €1,491 = €140,410 €140K   €10K
NE 95sq.m x €1,855 = €176,225 €176K   €12K


Fig 1 The average minimum rebuilding costs for a standard 3-bedroom 95sq.m semi-detached house around the country. These are the base rebuild costs only. Additional items such as kitchen, built in wardrobes, floor finishes, and a garage, if the property has one, also need to be factored in. The rebuild costs of such items will vary from house to house.


While price increases may have moderated in Dublin, not surprisingly the capital still has the highest rebuild costs. According to the figures the cost of rebuilding a 3-bed semi in Dublin, is €218K, while the cost of rebuilding a similar house in the North West of the country is €140K, a difference of €78K. Put another way the cost of rebuilding a 3-bed semi in Dublin is €2,290 per sq.m versus €1,491 per sq.m in the North West.


The President of the SCSI Micheál Mahon warned that while homeowners may well face pro rata increases on their home insurance premiums off the back of these increases, it was really important that they have adequate insurance.


“The reality of the situation is that if the rebuild cost of your home is €280K and you only have it insured for €210K, in the event of a catastrophic event such as a fire, you will be facing a shortfall of €70K. However, what a lot of homeowners don’t realise is that if in that situation there was a partial loss, which cost €80K to repair, the insured party would only receive €60K and face a shortfall of €20K. This is because the homeowner in question has only insured their property to three quarters of its rebuilding cost.”


“That is why it is important for homeowners to put aside ten minutes, to check our easy to use rebuild calculator and to ensure the reinstatement costs required on their home insurance premiums are adequate and fully in line with current figures with regard to house type and location.”


“It’s also important that homeowners reassess their cover to take account of any changes such as home office extensions or garden offices. These have become increasingly popular with more people now working from home, but they need to be included in the house insurance. While premiums may rise as a result of these rebuilding cost increases, I would advise consumers to shop around to ensure they are getting the best value.”


Valuation v rebuilding costs


The SCSI said that its very important that homeowners understand the difference between a valuation and rebuilding costs. A market valuation is the expected amount another person would pay for your property if it was placed on the open market.


The rebuilding costs are associated with the cost of building or replacing the dwelling.  The SCSI says these figures can be very different so it’s important that the SCSI calculator is not used for valuation purposes. If you require a market value assessment go to and search for a valuer or auctioneer/agent using our ‘Find an Expert’ search facility.


A House Rebuilding Calculator and the 2021 Guide to House Rebuilding Costs is available free of charge at

Source: SCSI (The Society of Chartered Surveyors Ireland) – Press Release 15th March 2021

Published On: 22 March 2021 / Categories: General News /

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