We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

Debate House Prices


In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Cost to build a house?

24

Comments

  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    abaxas wrote: »

    If a builder can build a 2 bed terraced starter home and sell it to you for 70k. You do the maths.
    Round my way £70k would be about a 30% SO on a 2-bed terrace, with allocated parking in a nearby row.
  • abaxas
    abaxas Posts: 4,141 Forumite
    PasturesNew wrote: »
    Round my way £70k would be about a 30% SO on a 2-bed terrace, with allocated parking in a nearby row.

    All depends on land costs.

    Houses are not expensive things to build.
  • ILW
    ILW Posts: 18,333 Forumite
    So is it purely land cost that means a two bed starter in the home counties costs £200k upwards, or is someone making a fortune?

    Alat shoul onlt be around £40k to build.
  • abaxas
    abaxas Posts: 4,141 Forumite
    ILW wrote: »
    So is it purely land cost that means a two bed starter in the home counties costs £200k upwards, or is someone making a fortune?

    Alat shoul onlt be around £40k to build.

    No,

    Land is cheap. Farmland is 1-10k an acre.

    Planning permission is the difference.
  • FTBFun
    FTBFun Posts: 4,273 Forumite
    abaxas wrote: »
    No,

    Land is cheap. Farmland is 1-10k an acre.

    Planning permission is the difference.

    Farmland tends to be somewhat scarce in the middle of towns and cities though.
  • abaxas
    abaxas Posts: 4,141 Forumite
    FTBFun wrote: »
    Farmland tends to be somewhat scarce in the middle of towns and cities though.

    How do you think villages started?
  • the_flying_pig
    the_flying_pig Posts: 2,349 Forumite
    other than in perhaps a few very cheap areas land [with planning permission] is by far the biggest component of the total cost.

    e.g. how much of the £1.6m price difference between these two similar-sized newbuild houses do you think can be explained away by differences in quality of building materials etc?

    http://www.rightmove.co.uk/property-for-sale/new-homes/property-28677910.html

    http://www.rightmove.co.uk/property-for-sale/new-homes/property-32546936.html
    FACT.
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    abaxas wrote: »
    How do you think villages started?
    99.999% of the time well before PP was needed.
  • abaxas
    abaxas Posts: 4,141 Forumite
    PasturesNew wrote: »
    99.999% of the time well before PP was needed.

    Exactly.

    PP is the driver of house prices as, by definition, it is protectionism.
  • kabayiri
    kabayiri Posts: 22,740 Forumite
    Part of the Furniture 10,000 Posts
    I'd suggest that build costs are currently a moving target, and those costs are coming down in my area.

    I'm about to start a largeish extension (25 sq m). I had quotes last year for the finished build (10 months ago) and requotes recently.

    The prices offered now were between 18% and 26% less.

    In addition, a build manager has offered to manage the build as a different approach. His argument for saving me money is based on labour rates being almost half of what they were 3 years ago.

    If this pattern is true elsewhere, I'd say material costs are up slightly and labour costs down noticeably.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 354K Banking & Borrowing
  • 254.3K Reduce Debt & Boost Income
  • 455.3K Spending & Discounts
  • 247K Work, Benefits & Business
  • 603.6K Mortgages, Homes & Bills
  • 178.3K Life & Family
  • 261.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture